Ukraine is facing an existential threat. The country is bankrupt and its macroeconomic policy has been taken over by its biggest creditor, the International Monetary Fund (IMF). Yet, the incumbent interest groups that run the current government are busy reviving the old extractive economic model, continuing to take the resources from the many and distributing them to a select few. The IMF has put itself at an exceptionally high risk in Ukraine. Yet recovering its loans in the short-term will not help to resolve Ukraine’s long-term existential problems. Is this the right thing to do? What are the long-term solutions …read more
Source: Legatum Institute
