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«Zelenskyi should default on country’s external debt «, — Ihor Kolomoiskyi

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«Zelenskyi should default on country’s external debt «, — Ihor Kolomoiskyi
Ukraine should follow Greece and reject the International Monetary Fund’s austerity programme or default on its external debt.
It was said by Ukrainian oligarch Ihor Kolomoiskyi in an interview with the Financial Times.
«In my opinion, we should treat our creditors the way Greece does.  That’s an example for Ukraine. In its battle with creditors in 2015, Greece became the first developed country that refused to repay an IMF loan, albeit temporarily. How many times has Argentina defaulted? … So what, they restructured it. It’s fine,» — Kolomoiskyi admitted.
According to Ukrainian businessman, Zelenskyi’s landslide victory in the presidential election confirmed that the people of Ukraine want a break from the IMF-mandated austerity reforms and a clampdown on corruption. The voters cited these as their top reasons to vote for the comedian.
«If Zelenskyi listens to [the West] and doesn’t make his own appointments he’ll end up like Poroshenko. He’ll have the same poll numbers 5, 10, or 15 instead of 73 per cent,» Kolomoiskyi said. According to him, the United States and the European Union should write off Ukraine’s external debt.
«This is your game, your geopolitics,» he said. «You don’t care about Ukraine. You want to hurt Russia, and Ukraine is just an excuse.»

Kolomoyskyi also denied funding Zelenskyi’s presidential campaign, adding that his assets had been frozen and that his broadcaster’s debt to Zelenskyi’s production company was about $8 million.

In November, the Ukrainian Finance Ministry said the country could avoid default on debt obligations in 2019 only if it continues cooperation with the IMF. Ukraine will spend almost $15 billion on servicing and paying off government debt in 2019, the country’s finance minister Oksana Markarova said then.

In December, the IMF Executive board approved a $3.9 billion stand-by program for Ukraine for a period of 14 months. The IMF then announced it would immediately provide Ukraine with a $1.4 billion tranche from the new loan package and make the rest of the financial aid available after semiannual reviews are completed.

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