Ukraine faces 'catastrophe' if IMF-backed budget not passed today

Today is a big day for Ukraine. Today law makers will debate and attempt to pass an austerity budget to make way for a new IMF credit amount. But this time there is a big opposition. If this budget is not passed Ukraine will collapse, because of lack of funds. It depends on IMF to pay its citizens pension.

Deputies are set to debate legislation that could unlock the release of a delayed USD 1.7 billion loan from the International Monetary Fund and other Western aid. But Ukraine's increasingly-splintered parliament has already blocked the implementation of some 2016 budget amendments that could make the former Soviet state's finances more transparent and loosen the state's hold on its biggest industrial companies. Parliament's failure to adopt the budget and major tax amendments could result in a lack of government funds "for Ukraine's army, police, schools, hospitals and lead to an effective economic catastrophe."

Looks like Arseniy Artsenyuk is trying his best to get this passed, bit he is nowadays quite unpopular in the parliament. Recently a law maker attempted to carry him put of the parliament. Ukrainians are not taking this austerity well. But what they dont realise is that if this budget is not passed, they will not even get their pensions and salaries. The IMF has then by their gonads.

Ukraine faces 'catastrophe' if IMF-backed budget not passed: PM

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Ukranians must be extremely irresponsible people when it comes to managing money properly. It must be so, because to claim otherwise would be like saying they got a raw deal from the IMF... it's tantamount to saying they made this happen on purpose, like they had it planned all along. And we know that can't be true.

I am scanning the webs for updates. They must pass this bill today or Ukraine starves. No pensions, no salaries, no money for hospitals to run. I have family there and am pretty worried.

Last time they tried to pass the bill, this happened:

a reply to: asen_y2k

Just marking this thread and drooping a link to Stephen Cohens latest interview called Maidan Two Years Later .www.informationclearinghouse.info... there is a audio file podcast and text with to the stats on what the Ukrainian people might be thinking .

17% approve of Poroshenko's job performance
8% confident in their national government
5% say government doing enough to fight corruption
December 24, 2015 "Information Clearing House" - WASHINGTON, D.C. -- Despite signs last year that Ukraine's then-new president was starting to rebuild Ukrainians' trust in their leadership, President Petro Poroshenko is now less popular than his predecessor Viktor Yanukovych was before he was ousted. After more than a year in office, 17% of Ukrainians approve of the job that Poroshenko is doing. This approval rating is down sharply from 47% a few months after his election in May 2014.

There were huge protests outside the parliament to prevent the bill from passing. Seems like people are against it. But certain ammendments, eg tax codes( IMF recomendations) etc were passed.

link

a reply to: asen_y2k
Oh Ukraine may face a few more then such austerity measures before the whole fiasco is over, it may even turn into a what you would se in some parts of Africa which were so vehemently helped by foreign powers and still are to this day, such a paradise that is no.

Besides monsanto and co, are not the only ones to have graced there shores, I mean the board of directors of national Ukrainian companies are foreigners including I think Joe bidden son on one of them a gas company or something, and the whole bait and switch is a long scam which has been proven to work the world over from egypt to ancient rome onward our current digital giving zeros and ones into pliticos or other leaders bank accounts is not new it is merely the advanced and evolved form of what has been happening for a long time.

Soon in a few generations Ukrainians may have to wake up to the reality that they and there children are serfs and guest workers on the land there fathers and fathers fathers have worked for thousands of years because you know a pice of paper says so, oh that and the thousands of guys with guns willing to enforce corporate policies. Cant really blame them, the Ukrainian people they are all fools after all and likely diverse whats likely to come down there way, and you can always trust a human to follow his greed even the promise of it, even to the determent of themeselfs.

The lone voice in the wilderness is wasting his time, any thing worth learning will have to be done in a more personal matter and way sometimes even over hundreads or thousands of years. And so we shall see. But ya! The show of opposition and tit for tat must go on, while in the background things are a churning...