One word for American taxpayers…SUCKERS!
The IMF (which is essentially American taxpayer money) would have put the $17 billion to better use had it burned it for warmth.
One thing is certain…lots of Obama officials will get richer. Bankers will get richer. A few Ukraine oligarchs will get richer.
Ukraine citizens will get a lot poorer, as they enter Western US/EU servitude.
Via Yahoo News…
The four-year, $17.5 billion (15.5 billion euro) aid plan replaces an existing IMF program, less than a year old, that proved inadequate to stabilize Ukraine’s finances.
Five billion dollars will be disbursed immediately and a total of 10 billion in the first year. The “heavily front-loaded” program will support “deep and wide-ranging policy reforms,” IMF managing director Christine Lagarde said.
First outlined by Lagarde in early February, after the IMF reached a preliminary agreement with Ukrainian authorities on economic reforms, the IMF aid is to be part of about $40 billion in assistance from the international community.
The White House welcomed the plan and made it clear it saw it as part of the international effort to shore up Ukraine against its foes.
“The United States is working alongside international partners to provide Ukraine with the financial support it needs,” it said.
Ukrainian Prime Minister Arseniy Yatsenyuk told a briefing in Kiev that the bailout was a reward for reforms already undertaken and he vowed the government would continue.
“It obliges us to keep going, not to stop,” he said.
If you thought the IMF giving Ukraine $17 billion is nuts, how about the IMF actually saying that Ukraine will return to growth in 2016. Delusional? Yes…but also a necessary statement in order to justify a political decision.
The joke however, is not on them, it is on US taxpayers who will pay for the IMF’s stupidity and incompetence.
And if Ukraine is anything like Greece (it’s much worse), then expect another $300 billion US taxpayer money to be doled out over the coming few years in order to prop up the nazi hell American exceptionalism created.
The International Monetary Fund said on Wednesday that Ukraine’s economy should return to growth in 2016 after a deep contraction this year.
In a news release providing details of its $17.5 billion loan to Ukraine, the IMF said the economy would likely shrink by about 5.5 percent this year, before rebounding with growth of 2 percent in 2016 and 4 percent annually in the medium term.
It said inflation should subside to around 27 percent by the end of this year after a spike led by a sharp drop in the value of Ukraine’s currency and gas and heating tariff increases.