The economist: the West cannot watch the money provided to Kiev
The West will not be able to do for Ukraine, even supporting her financially, and in the coming months, the country is likely to become bankrupt, if the official Kyiv will not implement reforms, until now remaining only on paper, writes in the publication in senior research fellow of the Cato Institute, Director of the Institute of global development in the U.S. capital, economist Richard Wounds.
according to official data, the current volume of gold and currency reserves of Ukraine is not more than $ 10 billion. However, in reality the situation is much worse, And, in addition, gold accumulation on a monthly basis Usually reduced by $ 3 billion. Even the part of the remaining funds already illiquid - it is either wasted or stolen, writes economist referring to its sources.
in April the IMF blesed Ukraine a loan in the amount of 17 billion dollars provided that the authorities of the country of a number of reforms aimed at reducing public expenditure and the battle against the illegal activities of officials. It is not known what was spent this money. As emphasized by the Creator, " seems to be a large part of the Ukrainian budget was spent on schemes of bribery of voters and the usual bribes ".
for reviews of the Wound, even-thought-out effective economic reforms do not guarantee the country exiting the fall, As Ukrainian politicians they are perceived As an obstacle to their short term economic interests.
One of the main issues is what must be the actions of Western governments and the IMF, when the Ukrainian authorities will run out of money. Granting Ukraine a greater financial assistance without holding Kiev reform is a waste of money, which will not lead to the improvement of the economic situation in the country. And as long as the authorities have no need of determination, no wisdom for right action, says the Creator of the article.
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