The IMF, Ukraine, trinkets, and a mess of pottage

Ukrainian politolog says his country has sold its sovereignty to the IMF

Peter Minuit buys Manhattan Island
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If you search “sold his birthright for a mess of pottage,”  you get “The phrase alludes to Esau’s sale of his birthright for a meal (“mess“) of lentil stew (“pottage“) in Genesis 25:29-34 and connotes shortsightedness and misplaced priorities.”

Politolog Konstantin Bondarenko uses another image, the legendary sale of Manhattan Island for trinkets. Just for fun, we can read the earliest document about THAT sale here.  But enough preamble, on to the news:
Bondarenko: Ukraine sells its sovereignty to the IMF for beads and glass
06/12/2020 19:29 1137
Bondarenko: Ukraine sells its sovereignty for beads and glass to the IMF
For loans from the International Monetary Fund, the current Kiev authorities have sold the sovereignty of Ukraine. So the Ukrainian political scientist, historian Konstantin Bondarenko believes, the correspondent of the Kharkov News Agency reports.

According to the expert, today many Ukrainian citizens and Kiev politicians are happy that the International Monetary Fund (IMF) has signed a memorandum with the Bank that will allow Ukraine to receive $ 5 billion.

Bondarenko does not share these feelings, because he knows that the foreign financial institution gives Kiev money at high interest rates and on extremely unfavorable conditions for the country.

He said that all the years of cooperation between Ukraine and the IMF were aimed at patching holes in the treasury. The Kiev authorities constantly took loans, agreeing to the savage demands of the International Monetary Fund: from the outsiders, Kiev was told what the Ukrainians should do, what reforms to carry out, and who to put in which particular post.

In addition, according to Bondarenko, “Ukraine is selling its sovereignty for beads and glass for the money that will later be squeezed back to the IMF just to pay interest on loans.“

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“Ukraine, in continuing to cooperate with the IMF, trades in its own sovereignty – frankly and for nothing. Ukraine sells its sovereignty for handouts, as the Indians sold their land for glass and beads. The country has become a drug addict who takes the last things out of the house for the sake of the next dose.

“That’s how Ukraine agrees to give the last for the sake of a loan from the International Monetary Fund,” the expert believes.

According to Bondarenko, the mass exodus of Ukrainian citizens from the country is a side effect of Ukraine’s conscientious fulfillment of IMF conditions. The specialist complained that after the collapse of the Soviet Union, the country headed for the destruction of its own economy and industrial potential. As a result, the state lost all the achievements that it inherited from the Ukrainian SSR.

“Once, Ukraine was a powerful state, but in just 30 years, the country has turned into a subject that fulfills all the whims of the West.
“Initially, an “agrarian superpower” future was prophesied for the state, but now it is required to sell its own land, raise tariffs, and so on. As a result of such cooperation with the IMF, Ukraine has become a third world country, and could soon become a fourth.”
According to Bondarenko, not one of the countries that cooperates with the IMF has yet become prosperous. And after the former Finance Minister of Ukraine, the American Natalya Yaresko, signed a memorandum with the International Monetary Fund, the country fell into the trap: now, the higher the GDP of Ukraine, the more Kiev should give to the IMF.
Therefore, assures Bondarenko, Ukraine is doomed to be a poor country. Even if the domestic economy begins to develop, the country’s citizens will not feel this, since all the money earned will go to pay off debts to the IMF and the West.
Earlier, the Kharkov News Agency told its readers that the leader of the Fatherland party, Yulia Tymoshenko, commented on the signing of a memorandum between Kiev and the IMF. According to her, because of this step, the Office of the President of Ukraine lost its independence.

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