IMF’s Ljungman leaves Ukraine with money not loaned | Kiev post
Goesta Ljungman, Resident Representative of the International Monetary Fund in Ukraine, speaks with the Kyiv Post on June 14, 2021, at the newspaper’s headquarters in Kiev at 68 Zhylianska Street in the KADORR building.
photo by Volodymyr Petrov
Since 1992, when Ukraine joined the International Monetary Fund, the country has borrowed about $ 32 billion out of a potential $ 74 billion in 11 separate programs.
These numbers alone tell an unflattering story. They show that Ukraine has not been able to put its economy back in order enough to survive without the IMF’s low-interest loans with public policy conditions. The record shows that Ukrainian leaders, facing financial emergencies, tend to agree to fund terms only to ignore them and abandon the programs once the financial storm clouds have lifted.