23.03.2015. Article “If there are will be reforms, there will be funds”, IER

In the next 4 years, Ukraine can expect to receive 17.5 billion from the International Monetary Fund (IMF). Institute for Economic Research and Policy Consulting (IER) prepared an article on the impact of these funds on the economy of Ukraine.

In the article, experts emphasize the following: “The money from the IMF – is not a “cure against the temperature”, says the head of the Institute for Economic Research and Policy Consulting Ihor Burakovsky. National Bank of Ukraine and the government must clean up the banking system.

“If you don’t reform bank supervision, financing, improve investment climate to attract investors’ money, no money will be enough for the gold reserves of Ukraine. It is only a temporary measure,” – said the expert.

Moreover, “The size of our debt will increase dramatically. And it will increase even more after additional funds from other organizations. The value of debt could rise to 100% of GDP. This is enormously great value. In order to be able to give it back, and to reduce the rate relative to government debt, the country must demonstrate economic growth. And it is necessary to start making reforms” – stressed the director of the International Blazer Fund Oleh Ustenko.

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