Regime Change in Ukraine and the IMF’s Bitter “Economic Medicine”
By Prof Michel Chossudovsky
In the days following the Ukraine coup d’etat of February 23, leading to the ousting of a duly elected president, Wall Street and the IMF–in liaison with the US Treasury and the European Commission in Brussels– had already set the stage for the outright takeover of Ukraine’s monetary system. The EuroMaidan protests leading up to “regime change” and the formation of an interim government were followed by purges within key ministries and government bodies…
The new Cabinet has stated that the country is prepared for socially “painful” but necessary reforms. In December 2013, a 20 billion dollar deal with the IMF had already been contemplated alongside the controversial EU-Ukraine Association Agreement. Yanukovych decided to turn it down.
One of the requirements of the IMF was that “household subsidies for gas be reduced once again by 50%”.
“Other onerous IMF requirements included cuts to pensions, government employment, and the privatization (read: let western corporations purchase) of government assets and property. It is therefore likely that the most recent IMF deal currently in negotiation, will include once again major reductions in gas subsidies, cuts in pensions, immediate government job cuts, as well as other reductions in social spending programs in the Ukraine.” (voice of russia.com March 21, 2014)
Economic Surrender: Unconditional Acceptance of IMF Demands by Western Puppet Government
Shortly after his instatement, the interim (puppet) prime minister Arseny Yatsenyuk casually dismissed the need to negotiate with the IMF. Prior to the conduct of negotiations pertaining to a draft agreement, Yatsenyuk had already called for an unconditional acceptance of the IMF package: “We have no other choice but to accept the IMF offer”.
[Neo Nazi Svoboda Party glorify World War II Nazi Collaborator Stepan Bandera]
Yatsenyk intimated that Ukraine will “accept whatever offer the IMF and the EU made” (voice of russia.com March 21, 2014)
In surrendering to the IMF, Yatsenyuk was fully aware that the proposed reforms would brutally impoverish millions of people, including those who protested in Maidan.
The actual timeframe for the implementation of the IMF’s “shock therapy” has not yet been firmly established. In all likelihood, the regime will attempt to delay the more ruthless social impacts of the macroeconomic reforms until after the May 25 presidential elections (assuming that these elections will take place).
The text of the IMF agreement is likely to be detailed and specific, particularly with regard to State assets earmarked for privatization.
Henry Kissinger and Condoleeza Rice, according to Bloomberg are among key individuals in the US who are acting (in a non-official capacity) in tandem with the IMF, the Kiev government, in consultation with the White House and the US Congress.
Read the entire article at http://www.globalresearch.ca/regime-change-in-ukraine-and-the-imfs-bitter-economic-medicine/5374877