Ukraine to Get New IMF Loans Despite Inability to Repay Private Lenders and Another Country Falls into Permanent Debt to Loan Sharks.
Like the United States, all of Europe and most of the world.
In spite the grievous state of the Ukrainian economy, the IMF said it will continue to lend money (backed by what? The paper it’s printed on) to Ukraine, so Kiev can complete economic restructuring
Despite Keynesian economc theory that you can borrow your way out of debt, you can’t.
Economics is simple: more value must come in than that which goes out.
The only organizations which do that are profitable busineses.
Households are in debt.
Governments are in debt.
The Ukraine will never pay back the tranche. Period.
And the IMF owns another country that will be subjected to austerity programs, food stamp equivalents and blood in the streets, Putin notwithstanding
“In the event that a negotiated settlement with private creditors is not reached and the country determines that it cannot service its debt, the Fund can lend to Ukraine consistent with its Lending-into-Arrears Policy,” IMF Managing Director Christine Lagarde said.
The IMF chief’s comments come as Finance Minister Natalia Yaresko and Ukrainian Prime Minister Arseny Yatseniuk wrapped up their promotional trip to US, which also included pleading with the IMF. Kiev hopes to persuade the international lender to release a $1.7-billion tranche of aid in July, as part of a $40-billion aid package that the IMF and Ukraine’s foreign allies have committed to.
An ‘aid package’ is a gift. Period.
Ukraine_to_get_new_IMF_loans_despite_inability_to_repay_private_lenders (aka loan sharks
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