Ukraine was left without loans, there was a huge hole in the budget
The Kyiv media brand the IMF for treason - the fund allocated only four tranches, Ukraine was provided with 8,5 of the promised 17 billion dollars.
The newspaper “Young Ukraine” writes about this.
The publication recalls that the IMF’s main requirements for Kiev to receive money remained unchanged - the sale of black soils and the lifting of the moratorium on the export of round timber (deforestation of the Carpathians).
In exchange for this, the West promises to provide another billion dollars of credit to Independence.
“In 2018, by the way, 14% of our budget will go to servicing the national debt. And in 2019-20, this figure will be even higher,” the publication recalls about the costs of existing debts.
And another Kiev newspaper “Den” adds: “In 2018-2019, Ukraine must repay external loans and interest in the amount of more than $12 billion. At the same time, the country’s foreign exchange reserves remain below those predicted by the International Monetary Fund: $18,6 billion at the end of January instead of the planned 22,3 billion.”
At the same time, most likely, Ukraine will not receive the next tranche, since before the elections the authorities will not agree to land reform and lift the moratorium on the sale of forests.
“As you know, land reform has an ambiguous perception in Ukrainian society, and a number of political forces oppose these changes. Therefore, there is a high chance that we may not receive a loan at all. In this case, the authorities will have to think about how they can pay off the state debt in the amount of two trillion hryvnia,” the Kiev media sums up the disappointing conclusion.
Ukraine is left without loans, and there is a huge hole in the budget.