IMF's Insistence on Economic Austerity Could Derail Ukraine's Chance of Survival

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Published on Friday, May 30, 2014 by The Modesto Bee
IMF's Insistence on Economic Austerity Could Derail Ukraine's Chance of Survival
by Mark Weisbrot


Ukraine's interim Prime Minister Arseny Yatseniuk in Kiev on April 3, 2014. Yatseniuk
has repeatedly said that "painful" economic measures demanded by the IMF in exchange for
billions in loans are necessary for Ukraine. (Credit: Reuters/Valentyn Ogirenko)

On May 25, the "Chocolate King" handily won the Ukrainian presidential elections in the first round.

Billionaire Petro O. Poroshenko is so named because he made his fortune in the confectionary business. The defeated runner-up, former prime minister Yulia V. Tymoshenko is sometimes referred to as "the Gas Princess," since she struck it rich in the energy sector.

It seems that Ukraine has not yet achieved the nominal separation of oligarchy and state that we have in the United States, and being extremely rich is almost a constitutional requirement to run for president - like being at least 35 years old and a natural-born citizen is here.

The U.S. government, which has invested billions of dollars over the last 20 years to bring Ukraine into its political/military orbit in Eastern Europe, seems pleased with the result.

Continued at commondreams.org
https://www.commondreams.org/view/2014/05/30-8

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