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The International Monetary Fund has agreed to change its policy on lending to countries that are in arrears to other governments. With Ukraine being among the states that asks for financial aid while owing Russia, the move has angered Moscow. "The IMF's Executive Board met today and agreed to change the current policy on non-toleration of arrears to official creditors," according to the IMF's Chief Spokesman Gerry Rice statement emailed to RT on Tuesday. "Details on the scope and rationale for this policy change" will be provided later, it added.
Previous IMF guidelines on lending to such states were relatively strict, stating that "the IMF doesn't lend to countries that are not making a good-faith effort to eliminate their arrears with creditors."
Ukraine is among such owing countries, having a $3 billion debt to Russia, with Kiev being on course to miss the end-of-the-year deadline to repay it. Going by the old rules, that would jeopardize IMF bailout to Kiev.
The IMF decision to change its lending policies has been made "in prejudice of Russia and to legalize Kiev's capacities not to pay its debts," Russia's Finance Minister Andrey Siluanov told journalists on Tuesday, as cited by Interfax. Siluanov called the decision "precipitated and preconceived." Russia has addressed the IMF to help solve the situation with Ukraine's debt, but was told to "engage with negotiations [with Kiev] alongside commercial creditors," Siluanov said.
originally posted by: Discotech
So what do you guys think ? Nothing sinister and just a charitable attempt by the IMF to "save" Ukraine from ruin or another covert attack on Russia and part of the plan for WW3 ?
It is incredibly suspicious that the IMF will happily offer money to Ukraine who is one of the most financially broken countries and in a depression yet does the complete opposite for an EU member state like Greece and demands Greece pay back their debts before offering more financial "support"
In my view it's another way for the west to covertly attack Russia and yet again try to provoke them, yet Russia are being incredibly diplomatic and playing it cool throughout all these assaults
"We are operating under the assumption that Ukraine should become a military state," Dmytro Shimkiv, deputy head of the Ukrainian presidential administration, said 29 September 2014 at a public debate on Strategy 2020 in Kiev. The reforms envisioned an increase in the number of servicemen in Ukraine from 2.8 people to 7 people per 1,000 people, he said. Shimkiv also said the defense and national security reform was a key reform envisioned by the program Strategy 2020.
Ukraine is planning to increase its military spending in 2015 up to 3 percent of the country's gross domestic product, President Petro Poroshenko's press service said 04 November 2014. The announcement cited the president's decree that enforced the September 12 decision of the Ukrainian Security Council. The plan aims at bolstering Ukraine's defenses. Poroshenko also said earlier the country's economy would be converted to meet its military objectives.
"With regard to financial support of the security and defense sector, the government has been tasked specifically with finalizing a draft state budget for Ukraine for the year 2015 that will prioritize the funding of defense programs. For instance, it stipulates that national security needs will be funded at a level of no less than 3 percent of the GDP," the statement said.