Kiev must avoid debt problems rather than borrow with sorrow

To forestall the coming financial crisis, Ukraine should contract the least possible amount of a sovereign debt including the one owed to the IMF whose prescriptions have never helped any country for many decades but caught debtor states in bondage. Kiev must avoid getting into debt problems right away because the gist of the coming crisis will be particularly the inability of many countries to service their debts.

Instead of accumulating new debts, Ukraine should improve its business climate, attracting investors from Europe, China and other countries to form mutually beneficial partnerships. Funds are to be steered to projects implemented by enterprises, thereby creating new jobs. These facilities will become integrated into the chain of making competitive technology-based products on a worldwide scale. Metaphorically speaking, Ukraine should build its own fish ponds and then bring in a good catch, instead of constantly getting down on its knees and borrowing fish from the IMF and other Western partners.

Poroshenko regime's love for foreign finance capital may well doom Ukraine if the government continues to privatize public assets that end up in foreign hands.

And last but not least, this country must seriously count on European and Slavic unity rather than on the so-called American aid. Incidentally, the recent poll shows that 82% of Germans agree with chancellor Angela Merkel that Washington is an "unreliable partner".