IMF #2 Likes What He Sees in Ukraine
Though the country is in meltdown mode
This article originally appeared at Red Pill Times
David Lipton, the IMF's first deputy managing director, travelled to Kiev on Saturday to meet with President Petro Poroshenko, Prime Minister Arseniy Yatsenyuk and members of their economic team.
"I was impressed by their vision for an economic transformation of Ukraine, and by their commitment to decisive, front-loaded implementation of their reform agenda," he said in a statement.
He said an IMF team was expected to wrap up technical discussions by the end of next week, while a mission to conduct policy discussions as part of the Fund-supported program is set to return to Kiev early next year.
But he gave no indication as to whether additional loans to Ukraine were being planned.
Poroshenko said in a statement posted on his website that he had assured Lipton of Ukraine's commitment to full cooperation with Fund's austerity demands.
He added that Lipton appeared impressed by a new cabinet appointed earlier this month that includes two Western investment bankers -- one from Lithuania and the other the United States -- serving as economy and finance ministers.
"We now have a very professional team that is focused on results," Poroshenko said in the statement.
Ukraine's foreign lenders, which besides the IMF include the European Union, World Bank and Japan, want deep cuts to welfare services and a hike in energy prices to help balance the books.
The IMF also wanted to see loss-making state firms privatised and graft that has permeated both ministries and local governments comprehensively punished instead of having their wrongdoings swept under the rug.
But few of those steps have yet been taken.
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The IMF, is on the hook to grant Kiev $17 billion (13.6 billion euros) in financial aid over two years as part of a broader $27 billion global rescue package. Ukraine's government has recently stated that it needs an additional $15 billion in immediate aid.
All of this money will be taken from US taxpayers and/or EU taxpayers...And, as was the case in Greece, this is just the beginning of the black monetary hole that is Ukraine.
So why was Mr. Lipton so impressed by a country which, for all practical purposes, is in meltdown mode?
We think he is impressed at how easily the Ukrainians are being led into never ending debt slavery.
He is also probably impressed at how willing the Ukraine men are to being used as canon fodder, in order to make him and his MIC buddies super rich.
Mr. Lipton is most definitely impressed as how openly the Ukrainian government loaded up its major ministries with puppets of the U.S. State Department.
He is really impressed that Poroshenko managed to so easily install a U.S. citizen, long time employee of the U.S. State Department, and bankster hedge fund manager as Ukraine's Minister of Finance.
Judging from the IMF and US's past regime change successes, we are sure that everyone will be very impressed at how big and fat their bank accounts will get when the fire sale that is about to become Ukraine is in full force.
It will be an impressive pay day indeed.