Shadow Bankers now run Ukraine

[polly7]

By Jack Rasmus
Source: Sputnik News
January 8, 2015

With Ukraine’s economy sinking faster into depression by the month, since November 2014 the IMF, European Commission, and USA have been intensifying their demands that Ukraine’s Poroshenko government expand and accelerate the IMF’s April 2014 plan to ‘restructure’ the Ukrainian economy.

In October, the World Bank forecast that Ukraine’s 2014 GDP will fall by at least —8%. That now appears to be a floor for the decline, as the economy has continued to further deteriorate rapidly. At the start of 2015 the situation has become dire. Ukraine’s central bank foreign currency reserves are now equal to less than one month. Meanwhile Ukraine’s own currency continues to decline in value, its export earnings fall, and credit is quickly drying up.

In the past, the IMF has allowed a host country to implement the plans and restructuring details it defines as necessary. The IMF lays out the program; the host country implements-under the direction of the IMF mission team of technocrats. However, this time it appears the IMF-and the European and American interests behind it-are demanding that its own more ‘reliable’ western managers directly manage the IMF program implementation.

After a flurry of IMF missions back and forth to Ukraine in November, on December 2 the Poroshenko government therefore agreed and appointed two western shadow bankers-one from the USA and one from Europe-to its two key economic positions of Minister of Finance and Economics Minister-to ensure that restructuring now occurs more rapidly, more aggressively, and to the fullest benefit of western economic interests.

In an unprecedented move, Natalie Jaresko, a USA citizen and current private equity firm, Horizon Capital, CEO was appointed Ukraine Finance Minister; and Aivaras Abramavicius, a Lithuanian with past employment ties to Swedish and German investment banks and, like Jaresko, educated in the USA, was appointed Ukraine Economics Minister.

Full article: https://zcomm.org/zcommentary/shadow-bankers-now-run-ukraine/

[djean111]

1. The money vultures are circling.

This is all this was ever about - the thrill and profit of austerity.

[polly7]

3. Yep. It was clear from the start.

“Yatsenyuk was saying that what the Greeks did to themselves we are going to do ourselves,” said Signorelli. “He wants to follow the Greek economic model. Who the hell wants to follow that?”

2/27/2014 @ 4:58PM 16,881 views
Washington's Man Yatsenyuk Setting Ukraine Up For Ruin

http://www.forbes.com/sites/kenrapoza/2014/02/27/washingtons-man-yatsenyuk-setting-ukraine-up-for-ruin/

[Duckhunter935]

2. too bad

never would have happened if Russia did not invade and kill the Ukrainian economy to try and defend itself from a much larger aggressor.

[polly7]

4. LOL. nt.

[djean111]

5. Are you kidding? This austerity was planned long before that. nt

[polly7]

6. Austerity — the 1%’s Global Battle Cry

https://zcomm.org/znetarticle/austerity-the-1-s-global-battle-cry-by-mark-vorpahl/

[Blue_Tires]

7. Well, the President emptying the coffers before fleeing hasn't helped, either