Monday, February 13, 2012

The rich get richer, the poor get poorer

The sober-minded 'Kommersant' newspaper reports:

"IMF warns of a hidden threat - Reduction of budget deficit recommended for Ukraine

Regeneration of the Ukrainian economy is in danger, warns the International Monetary Fund.

This can be avoided only by tightening fiscal policy - in particular, higher taxes and gas prices, as well as a transition to a floating exchange rate.

The recommendations of the IMF have become much tougher, since a deterioration in the payments balance in Ukraine has become apparent, experts admit."

Cf. Yanukovych's super-luxury A-319 Airbus with marble and gold bathroom fittings etc. etc...[photos here ] - cost $90m...Not that he will be using it he is being shunned by western leaders..

Oh, and no more IMF credits without improvements in democratic standards...

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