Pepe Escobar Explains Ukrainian Economics in 1 Minute

In a word - Ukraine is in big trouble...

Wed, Nov 19, 2014
|
8,678Comments
MORE: Politics

Kiev’s foreign reserves plunged last month by a whopping 23.2 per cent to a paltry $12.6 billion.  

By the end of the year it will be even messier.

Kiev’s gotta pay a $3.1 billion gas bill to Gazprom, or else…  

The central bank will have to sell more foreign currency to support the hryvnia. And there are MORE hefty gas bills as General Winter advances.

advertisement
Is the austerity-devastated EU lending them at least one euro? Of course not.

Ukrainians take a bath

 

It’s up to the IMF, who now OWNS Ukraine.

Yet there will only be “emergency funding” if Kiev applies that good ol’ “structural adjustment” – as in turning the overwhelming mass of Ukrainians into beggars for life.

These are the facts. The rest is rubbish.

advertisement

Click here for our commenting guidelines