Posted on 09/23/2014 11:33:45 AM PDT by Navy Patriot
Ukraine will likely need to extend its IMF program to help the government pay its bills and also will require more support from other donors, especially the European Union, a global financial industry group said on Tuesday.
Despite a recent ceasefire with pro-Russian separatists in eastern Ukraine, Kiev will suffer a double-digit recession this year, given the destruction of factories and other infrastructure and an increase in banks' capital needs, the Institute of International Finance said.
Lubomir Mitov, the IIF's chief economist for emerging Europe, said Kiev would also likely need to restructure its debt to lengthen the maturities on government bonds.
Ukraine's central bank predicts the nation's economy could shrink around 10 percent this year, worse than the 6.5 percent decline forecast by the International Monetary Fund.
(Excerpt) Read more at reuters.com ...
I never heard of the IIF
The loss and foreign occupation of 10% or so of the country by the Evil Empire II will do that.
the Institute of International Finance
http://www.iif.com/
Thanks, I should have posted that link in my comment to avoid confusion with IMF.
They are a global financial industry trade group, right?
Like API for oil industry, making recommendations and supporting member interest, but no real power??
got it.
Ukraine needs their territorial sovereignty back and not being invaded and occupied. That would help the economy.
Financial “help” is pointless until the war is over. Who would invest in a country being gobbled up by an Evil Empire?
Like API for oil industry, making recommendations and supporting member interest, but no real power??
A very good description.
The rule of holes applies here.
My first thought is that helping pay their gas bill only helps fund their takeover by Russia.
All these countries keep looking for a hand-out. Poland, right after Russia sanctioned their fruit, went running to the EU asking for a $500,000,000 bailout for their farmers. Then they also asked the U.S. to start importing their produce.
Ukraine keeps demanding money and weapons, for free of course.
I really don't know what the EU and the US are thinking. They just might create a Russia that's self-sufficient, while the EU and the US take on Ukranian debt and inability to use the money they're given wisely.
Russia doesn't have to do that, and they never wanted to in the first place.
Ukraine is (was) quite valuable to Russia as a favored trade partner supplying agricultural products from the West and manufactured goods and raw materials from the East. Russia supplied discounted gas and petro products, credit and tourists.
cutting off Russia will motivate them to build their own manufacturing and agriculture, actually building the Russian economy in the long run.
Ukraine is left with a broken country and stuff they can't sell if it's not broken. The EU profiteers can no longer get gas at a discount to line their own pockets on resale, so now Ukraine is worth much less to them, and any help from the West will come with debt serfdom strings.
Russia still gets Crimea, the navy and the port, which will eventually get back to normal and not yield a dime to Ukraine.
Call George Soros!!
Yes, they do, there's a sucker born every minute.
Of course, there are always strings attached to EU and US "assistance", and the suckers find that that, like Hotel California, they can check out anytime they want, but they can never leave, ... EU debt serfdom and Fascist regulatory serfdom.
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