According to TeleTrade Group chief analyst Petr Pushkarev, to promote Ukraine's GDP growth, it is necessary to throw off the yoke of the IMF (or International Monetary Fiasco, as the joke has it). Taking account of Russia's experience after the 1998 financial crisis, the analyst does not rule out the worst-case default scenario acknowledging a failure to pay debts, which may be more useful for this country than their further accumulation. Anyway, Kiev will have to declare insolvency.
Many experts deem it more expedient to relieve the debt burden rather than continue bearing this load. Mr. Pushkarev asserts that this will not deter new real investors from pumping money into Ukraine: not those who grant loans with political and economic strings attached, but others who are ready to invest in joint ventures, taking advantage of the nation's cheap yet skilled workforce and favorable geographical location of this country. Business people are not particularly scared by the default, they would still come to Ukraine provided the government pursues a policy of creating a healthy business environment. The rescue of the Ukrainian economy involves incorporation in the modern chains of creating value and technology-intensive products that are not merely designed for domestic consumption, but also with emphasis on export.
No comments:
Post a Comment