For Ukraine, the IMF loans were the last lifeline – Lanovoy

Для Украины кредиты МВФ стали последним спасательным кругом - Лановой

Lanovyi said during a chat organized by the newspaper editor-in-chief, today for Ukraine the loans issued by the IMF, became the last lifeline. The ex-Minister of economy stressed that the Ukrainian officials are ready to accept any conditions offered by the Fund, according to

Vladimir Lanovoy explained that today financial contributions to the IMF are the last lifeline for Ukraine. In fact, the volumes of foreign direct investment over the last decade has decreased by 10 times. Thus, the Ukrainian government bonds by foreign investors are willing to buy at less than 9 percent, whereas similar securities of the Czech Republic or Poland gain a maximum of 2 percent.

Ukrainian officials are ready to agree with any conditions imposed by the IMF. They are just interested in obtaining foreign currency for the subsequent conversion of these funds somewhere offshore. In turn, the IMF understands that the prospects of alignment of financial flows and trade balance in Ukraine is practically zero. Therefore, the Fund and does not respect Ukrainian representatives. The Foundation is currently behaving with Ukraine exactly the same as with the countries of South America and African countries. Meanwhile, that financial assistance is needed only to overcome the crisis – it need not be permanent.