By piling on more debt at the worst possible time. Just like the military industrial complex banks are cashing in on the crisis.
Jacobin- It’s Time to Cancel Ukraine’s Foreign Debt
The response of multilateral institutions has been to give even more loans to Ukraine. Since the war started, the IMF has given a £1.4 billion emergency loan, while the World Bank has provided a $723 million financial package that includes $589 million in loans. These new loans are being piled on top of Ukraine’s already unsustainable debts.
We live in an age where the corrupt and the losers prosper while everyone else is bled dry. Ukraine has been regarded as the most corrupt European country for several years now and their dalliance with the west and NATO has led to the conflict currently destroying that country. I doubt they’ll be making debt payments any time soon but forgiving their debts will not help them make the necessary changes to the way they conduct business when and if they return to normal.
As if that were the objective.
Kiev’s creditors want to get paid. The only person who’s actually done anything to rid the Ukraine of corruption is Vladimir Putin. If the Ukraine is de-Nazified, Kiev’s creditors will be wiped out, and they know it.
“Normal” for the Ukraine is hopelessly corrupt. It’s not fixable short of removing and liquidating the Kiev elite.
Now I’ve got over my sadness at the decline of Small Dead Animals, I can fully enjoy laughing at the frothing madness.
Looking in a mirror eh?
PJF, UnMe and Allan S are either all the same person or are all sent by the same people to try and piss on our picnic.
But our replies, like the wind, make their piss rain on them instead.
. . . are either all the same person or are all sent by the same people . . .
Just because you’re a paranoid conspiracy nut doesn’t mean
I’mwe’rethey’re not out to get you.Isn’t killing the whole population an extreme way to kill a group with 2% of the vote? Ivan, I shudder to think of how you deal with rats in your house.
And that elite came to power through elections. “Liquidate” is so Soviet.
No. That would be Russia.
But their heroic Comedian President is laughing all the way to the bank.
Jacobin should be more careful what they wish for.
When the Ukrainian state is liquidated, the people who racked up debts to western creditors will be liquidated with it. Whoever replaces them will not honour the debts of Ukrainian Nazis to the Money Trust of the Empire of Lies. Nor should they.
It is not the privilege of the Money Trust to magnanimously “forgive” debts racked up by puppet governments over the objections of their subject peoples.
It is the responsibility of those peoples, after regaining their freedom, to refuse to honour the theft bonds and reclaim their sovereign right to issue money and regulate its value.
https://www.globalcapital.com/article/29u7pfbien6oovsx3rcow/emerging-markets/em-cee/ukraines-yuriy-butsa-raising-sovereign-bonds-in-a-war-zone
– What are your plans with existing international bonds in terms of coupons and maturities? How can you manage this?
We do not have any plans not to service the debt. The cost of not servicing the debt is much higher than servicing it, to be honest. Our first repayment is not due until September so we have a lot of time to go, and we hope conditions will have normalised for us by then.
.
Now do Russia.
They’re looking for a Hunter Biden REFUND? Good luck with that. We’ve all seen the pictures of what he spent it on. Perhaps you would like some of his paintings? Although their value crashes on the resale market.
Here’s the best painting of Hunter, the smartest guy Joe knows…
https://www.facebook.com/scott.lobaido/videos/good-time-to-show-my-portrait-of-hunter-again/699994034461916/
The several hundred billion dollars in Russia overseas cash should do nicely for rebuilding Ukraine.
They are at war defending an invasion. You aren’t worried about debt when your cities are being bombed and your fellow citizens killed.
Give your head a shake, man.
You can be leery of the western media’s narrative without engaging in your own lunacy.
I wonder how much of the proceeds of that debt went into the pockets of the world’s elite?
Canada has unsustainable debt too. Maybe The Awful Truth could talk to his contacts in Moscow and get Putin to exterminate us as well.
What an excellent idea. Canadians are the most obnoxious humanoids on the planet. Earth would be a better place without Canada.
I don’t know what it has to do with the conversation but I agree with you. I’m sick of living among the Eloi.
I noticed Allan S comments are disappearing, he’s definitely one of them.
and 10% for Joe and 10% for Hunter
You really think Joe Biden is helping Ukraine for free?
let O’Butthole and company pay the Uke debt, they are responsible for this war!
The more money they pour into that pit the more comes back into personal accounts. That’s over and above the Big Guy’s cut.
bverwey
Let us imagine you own a car. Let us call it a Ford just cause Ford is easy to spel. Let us say you gift that car to your eldest child, cause, reasons.
What does Ford get out of that transaction, rounded to the nearest ‘Sod All’?
Ford, or another car maker, are only going to get something if you also go and buy a new car.
Now replace the words above with stuff like ‘Anti Tank Weapons’, ‘Central European Nation’ and ‘The Government’. Most, if not all, of the aid provided has been pre-existing stocks. The Government (aka ‘The Customer’) has already paid the OEM (‘Industry’) and Industry are getting no massive bonus from the Government due to this transaction.
Unless the Customer starts ordering replacement kit from Industry – which they may still do, I just haven’t heard much about this as yet – then Industry is actually the old term friend from High School who is now sitting awkwardly off to the side while you go drinking with your new university mates.
Industry makes the money in development/research projects and long term support contracts. Manufacturing can often struggle to make a profit and Industry look to picking up life of type service contracts over 20 to 30 years. They do best in periods of uncertainty. Certain Peace is bad, cause no one spends money and Certain War is also a problem as anything that doesn’t directly effect the ‘war effort’ often gets it’s funding cut.
Not – the Industrial Military Complex is totally real. Your Nation May Vary but the influence on decision making with Governments is probably going to increase. Projects have massive lead times so by having Industry involved more directly will reduce the second guessing that happens between The Customer wondering what Industry can do and Industry guessing what the Customer actually wants.
Industrial Military Complex = Real
But it is NOT making a killing over Ukraine. It MIGHT make bank in the decade or so AFTER this finishes as analysis kicks in and ‘equipment X’ is found to no longer work and ‘equipment Y’ needs to be replacing it. Or something. Pencil that into your bingo cards.
But the factories are not – at this moment – running double shifts. Existing equipment is being given away. New equipment is not being purchased. Understand that. Might not fit into your moral/ethical view of the world, but it is the current reality.
(missed my edit window…)
Half way down – *Note – the Industrial Military Complex is totally real.
Makes more sense that way.
I bet a lot of that money is syphoned off to private bank accounts.