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The International Monetary Fund is poised to embark on what analysts have described as "global quantitative easing" by printing billions of dollars worth of a global "super-currency" in an unprecedented new effort to address the economic crisis.
Originally posted by pause4thought
So what's it like when your country's economy goes right over the edge?
So what is coming? Looks like 2 choices: total bankruptcy or total indebtedness to the IMF for generations to come.
[edit on 28/3/09 by pause4thought]
The World Bank has said Ukraine's economy will shrink by 9% this year, more than double its previous forecast.
It said in December that Ukraine would contract by 4%. The International Monetary Fund expects the country to shrink by 6%...
...Ukraine's currency has dropped 38% in the past year against the US dollar, eclipsed only by the Icelandic krona and the Seychelles rupee.
The International Monetary Fund will arrive in Ukraine today and meet with Prime Minister Yulia Timoshenko to resume talks on disbursing the second tranche of the former Soviet state’s $16.4 billion loan....
....it will find “non-inflationary” ways of financing the budget gap and approved two laws to raise tobacco, alcohol and diesel taxes last week. Ukraine needs to pass several more laws, including on bank restructuring...