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About the IMF Requirements

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Let’s briefly explain the “10 IMF Requirements”, the acceptance of which is now considered to be Yatsenyuk’s fault.

This piece of “breaking news” is a bit outdated – it appeared about three years ago. The Ukrainian News just used an existing analytical article from Hvylya.org dated December 7, 2010. On December 8 a corresponding post appeared in the Hvylya.org digest, but if you try to follow the links, you’ll find out that the pages do not exist.

We’ve found the document on Wikileaks. First of all, they are not “obligatory requirements”, but just reform proposals, given by Mr. Pynzenyk, whose name is openly mentioned there, in diplomatic correspondence,

The document is dated February 23, 2010. Let us remind you, how Ukraine cooperated with IMF in that period: in November 2008 the government of Yulia Tymoshenko received an IMF credit in the amount of USD 16.4 billion. In a year the Fund decided to freeze and cancel the credit, but instead of it another credit was given – USD 15.2 billion for the government under the President Yanukovych in July 2010. The second tranche of this credit in the amount of USD 1.5 billion was provided by the IMF Executive Board to Kyiv in December. But then the crediting was suspended, as the program requirements were not being fulfilled with due progress. The government of Yatsenyuk will have to prove the earnestness of their declarations and methods first.

Please see detailed chronology in the following UNIAN article. So Pynzenyk’s letter was written in the period, when the 2008 credit was already suspended, and the 2010 credit was not being negotiated yet. On December 2013 this text appeared here, and was readily republished by media. It is a 1:1 reprint of the letter dated 2010.

New IMF requirements haven’t been formulated yet, and the existing ones can not be considered obligatory. Make your own conclusions.

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