“Genius” in Ukrainian: a bill introducing a moratorium on payments on external debt
There is no reason to doubt the “genius” of the Ukrainian government. The government initiatives of the Cabinet of Ministers of Arseniy Yatsenyuk are such that one another is "more ingenious." For the right to compete for the title of the most ingenious bill claims the government's initiative, according to which the country proposes to introduce a moratorium on (attention!) Payments on foreign debts. Government officials appeal to the deputies of the VRU with a proposal to support their initiative at the legislative level.
From the message with government portal of Ukraine:
The following describes how the “kleptocratic regime of Yanukovych” was, and that it is possible not to pay for debts that have grown in volumes under the previous regime. At the same time, it does not tell where the billions of dollars that Ukraine received from international creditors under the current government have disappeared.
Government Yatsenyuk:
Based on the “logic” of this government initiative, it can be concluded that the longer the conflict in Ukraine lasts, the more time Yatsenyuk and his associates have to refuse to repay loans. At the same time, the message will remain the same: “we are fighting for the prosperity of Europe, and therefore it is impossible to demand payment on loans from us ...”
In this case, the Ukrainian government should go to the end and introduce a moratorium on the use of, for example, Russian gas or receipt loans from the IMF ...
From the message with government portal of Ukraine:
The Government of Ukraine submits to the Verkhovna Rada of Ukraine a draft law, which should give the Cabinet of Ministers of Ukraine the right, if necessary, to stop paying international debt holders.
Ukraine is in a difficult economic situation, and the payment of international debt is a matter of justice.
The Ukrainian people make extraordinary efforts for the European future - and pay for the highest price for it. Ukraine is “obliged” to the previous regime of Viktor Yanukovych by extraordinary debt load. Under his rule, the volume of debt of Ukraine increased by 40 billion dollars. These funds did not reach the citizens. They were wasted for the country.
Ukraine is in a difficult economic situation, and the payment of international debt is a matter of justice.
The Ukrainian people make extraordinary efforts for the European future - and pay for the highest price for it. Ukraine is “obliged” to the previous regime of Viktor Yanukovych by extraordinary debt load. Under his rule, the volume of debt of Ukraine increased by 40 billion dollars. These funds did not reach the citizens. They were wasted for the country.
The following describes how the “kleptocratic regime of Yanukovych” was, and that it is possible not to pay for debts that have grown in volumes under the previous regime. At the same time, it does not tell where the billions of dollars that Ukraine received from international creditors under the current government have disappeared.
Government Yatsenyuk:
To protect the interests of the Ukrainian people, the Government of Ukraine submits to the Verkhovna Rada draft laws that give the Government the right to suspend payments on certain external obligations of state and state-guaranteed debts of Ukraine, which is specified in the annex to the relevant Cabinet of Ministers Decree. And in the event of an attack by unscrupulous lenders in Ukraine, this moratorium protects the assets of the state and the public sector.
Any moratorium declared under the new law will not affect our bilateral and multilateral debt obligations in the future, nor will it affect our internal obligations. The law is aimed at those external sovereign direct and guaranteed obligations that are indicated in the perimeter (except for two state banks and Ukrzaliznytsia).
It should be noted that the granting of such a right to the Government of Ukraine does not affect in any way the stability of the country's banking system or the rate of the Ukrainian hryvnia. But by adopting this law, we ask our foreign private lenders to join the support of Ukraine and share a heavy burden with us.
Any moratorium declared under the new law will not affect our bilateral and multilateral debt obligations in the future, nor will it affect our internal obligations. The law is aimed at those external sovereign direct and guaranteed obligations that are indicated in the perimeter (except for two state banks and Ukrzaliznytsia).
It should be noted that the granting of such a right to the Government of Ukraine does not affect in any way the stability of the country's banking system or the rate of the Ukrainian hryvnia. But by adopting this law, we ask our foreign private lenders to join the support of Ukraine and share a heavy burden with us.
Based on the “logic” of this government initiative, it can be concluded that the longer the conflict in Ukraine lasts, the more time Yatsenyuk and his associates have to refuse to repay loans. At the same time, the message will remain the same: “we are fighting for the prosperity of Europe, and therefore it is impossible to demand payment on loans from us ...”
In this case, the Ukrainian government should go to the end and introduce a moratorium on the use of, for example, Russian gas or receipt loans from the IMF ...
Information