National Interest: Ukraine should not be afraid of Russia and the IMF
IMF policies toward Ukraine increases the likelihood of bringing to the economic decline in the country, writes James Cardin in his article in the journal.
Cardin cites the example of the position of the journalist Tom Friedman and billionaire George Soros, who believe that the Russian Federation is danger Ukraine, however, the Creator of the article says, it's the Navy is more of a threat.
Creator specifies as the source of the opinion of economist Michael Hudson of the University of Missouri in Kansas city, who considers that the Policy of the IMF and other intergovernmental organizations leads to economic decline.
"New economic thinking neoliberalism believes that the privatization of public infrastructure may make investors rich. Lenders will give loans and receive secure (meaning the collateral for the loan, I.e., Property that is transferred to the lender in the form of guarantees of debt repayment - as amended), and the owners of the shares will become the breadwinners rent, being limited only by their inability to eliminate government regulation aimed against unexpected cash receipt, tax, rent, and other unexplained cash receipt of those who live by extracting rents, " said Hudson.
"When the extract rents impoverishes the economy, financial solution for the IMF and other intergovernmental organizations is to lend to the governments of sufficient foreign exchange to pay their foreign creditors and force taxpayers to pay for the transfer tax burden with the financial system, real estate and monopolies on labor resources. The result will be a downturn in the economy, " said Hudson.
As the article says, this Policy often leads to disaster, similar to the one that occurred in Russia in the 1990-ies and in Argentina in 1998-2002.
"Mr. Friedman, along with Soros - have the opportunity really to believe that Russia poses a great threat to the Ukrainian economy, but, as far as can be judged by history, the government in Kyiv may want to double think before becoming dependent on assistance from the IMF," says Cardin.
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