Robert Parry on Ukraine’s new IMF regime:
It’s a safe bet that most of the Ukrainians who flooded Maidan Square in Kiev in February did not do so because they wanted the International Monetary Fund to make their lives even more miserable by slashing subsidies for heat, gutting pensions and devaluing the currency to make everyday goods more expensive.
But thanks to the U.S.-backed coup that ousted elected President Viktor Yanukovych and replaced him with a regime including far-right parties, super-rich ”oligarchs” and technocrats with little sympathy for the suffering of average people, that’s exactly what happened. Although lacking legitimacy that would come from national elections, the coup regime pushed through the demands of the Washington-based IMF.
The process began just 10 days after the violent Feb. 22 coup that forced Yanukovych to flee for his life. IMF officials landed in Kiev on March 4 to hammer out a deal that acting Prime Minister Arseniy Yatsenyuk, himself a chilly bank technocrat, has acknowledged is “very unpopular, very difficult, very tough.”
What is also striking about the IMF plan is that it puts virtually all the pain on average Ukrainians. There is nothing in the economic “reform” package that extracts some of the ill-gotten gains from Ukraine’s ten or so “oligarchs,” the multimillionaires and even billionaires who largely plundered Ukraine’s wealth after the collapse of the Soviet Union in 1991.
There is no plan for demanding that these “oligarchs” kick in some percentage of their net worth to help their own country. Instead, hard-pressed citizens of the United States and Europe are expected to carry the financial load.
