The global community is ready to grant a financial aid to Ukraine and welcomes chosen path towards proper economic reforms and anticorruption efforts.
May 9, 2014
The global community actively discusses a financial aid to Ukraine. The issue of financial aid to Ukraine was one of the topical at the G-20 summit in Sydney. Ukrainian issue stirred up all international politicians. Such a potential grantors of Ukraine as the EU, the USA and the IMF expressed willingness to help Ukraine. The EU proposes to organize a conference of grantors for financial aid to Ukraine and to coordinate measures in order to lend economic aid to Ukraine from the USA, Japan, China, Canada and Turkey. In particular, the high officials of the European Union consider granting financial aid to Ukraine by the IMF as the only viable way for the Ukrainian economy. Meanwhile the IMF viewpoint concerning the future cooperation with Ukraine is fairly positive. The head of EU diplomacy Catherine Ashton claimed that the IMF will conduct its own independent assessment of the economic situation in Ukraine. The fund itself will determine what it could do. She added that the first step is to decide on the granting of short-term economic aid to the country and gradually develop with the European Bank for Reconstruction and Development a long-term plan to overcome the crisis. The European Commission is considering this assisting in liaison with international financial institutions and especially with the IMF. According to recent statements by the IMF Managing Director Christine Lagarde [Unlink], Ukraine will receive economic or financial aid from the IMF as soon as it asks for it, while it is important that the previous terms for loans are has lost its relevancy. Christine Lagarde assured that the IMF is directly responsible to help Ukraine and strain after an effective dialogue with the recently appointed government of Ukraine . The IMF intends to send to Ukraine Technical Commission in a short time that purposes to analyze the current financial situation of the country and determine the amount of the required financial aid to Ukraine. AT that time the Ministry of Finance and the National Bank of Ukraine together with the interim President Alexander Turchinov appealed to international partners asking for support in the allocation of financial assistance to the country, evaluating the overall required amount up to $35 billion over the next two years. Currently the government of Ukraine determines measures to calm the situation in the country, implementing effective institutional and economic reforms in order to meet the structural changes in the political and social spheres of the country, creates all the conditions for an efficient and effect:/e combating of corruption at all levels. Official Kyiv strain after a meaningful dialogue with the IMF, considering cooperation with this lender a the most resourceful tool for financial support and guaranty for the European integration perspectives. Chairman of the European Parliament Committee on Foreign Affairs Elmar Brok believes that the international community would provide a financial aid package to Ukraine. At a briefing on February 25th in Strasbourg, he noticed that the financial aid to Ukraine has to amount up to EUR 20 billion, consisting of EUR 15 billion from the IMF and the rest from the European Union . Budget and Financial Programming Commissioner of the European Commission Janusz Lewandowski said that there is already a plan to assist to Ukraine by macrofinancial loan in the amount of EUR 600 million, but the amount could be higher in case of positive cooperation between Ukraine and the IMF. He also noted that optimistically this aid could be provided at the end of March.
- Russia has to take an active part in stabilizing the financial situation in Ukraine, and abandon to conduct a splitting policy concerning Ukraine.
Ukrainian foreign policy tack was immediately changed after the rapid developments and the regime change in Ukraine. The European Union and the United States expressed confidence to the incumbent leadership and are ready to grant the necessary financial aid to the country. Thus Russia noticeably restrained its ardor with regard to the financial support of Ukraine, and directed its recourses for further exacerbating of crisis. In particular the Russian Federation emphasizes on illegitimacy of the newly created government of Ukraine. Ministry of Foreign Affairs of Russia accuses Europe is that it does not pay attention to the “dictatorial and terrorist” methods of the new government of Ukraine. While the European Union calls on all partners of Ukraine to give it the financial aid through the mechanisms of cooperation with the IMF, the Russian Federation expressed non-co-operation and froze the second tranche of loan to Ukraine according to the agreement of financial assistance provision signed by the government of Ukraine in December 2013. The Russian Federation even discusses the issue of announcing a default on debt obligations of Ukraine. Besides, the government of Russia does not exclude the possibility to overview the price of natural gas for Ukraine in the direction of its growth, in case of new government of Ukraine will choose the European direction.
- Delaying in the provision of financial aid to Ukraine, which is oriented to laying of reforms and stabilization of the situation, threatens the security of Europe and will lead to another defeat of U.S. policy.
J; Further delaying in the provision of financial support to Ukraine, especially on the part of the IMF, and the lack of compelling stand of the Western World on destructive policy of the Kremlin concerning the choice of the Ukrainian people to live in a democratic and non-corrupted state will reliably lead to another geopolitical victory of Putin. Putin’s initiation of military action with the silent consent of other strategic partners and security guarantors of Ukraine may flow out into a bloody echo throughout Europe. Everyone will become engulfed in hostilities including Frau Merkel and gentlemen Bildt and Hollande. Are they ready to the situation that Moscow will not stop on Ukraine? Russian Empire is from the Pacific to the Indian Ocean, or what did the ideological mouthpiece of the Kremlin Mr Zhirinovsky say? What do you think, dear Mr President of the United States? Who are you to enter into a world history: the first black president of America? A little-known politician in the times of the Great Vladimir of Moscow? A loser who could not stop another fratricidal war? Or finally a peacemaker who has kept the world from another disaster that could be the most ambitious since the Second World War. Time to think has run out.