Ukrainian oligarch Igor Kolomoisky, and the actual decision-maker standing behind Ukrainian President Volodymyr Zelensky apparently is anticipating economic woes in...
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Volodymyr Zelensky (L), Igor Kolomoisky (R). Click to see full-size image
Ukrainian oligarch Igor Kolomoisky, and the actual decision-maker standing behind Ukrainian President Volodymyr Zelensky apparently is anticipating economic woes in Ukraine during the autumn of 2019. So, he has already started blaming former president Petro Poroshenko’s government for them.
“The National Bank, under the governance of Petro Alekseevich and Hontareva, is now cutting the dollar, artificially strengthening the hryvnia. Despite the fact that the foreign trade balance is negative. They are laying a time bomb that will go off in September-October. When the rate jumps to 30, the new government will be to blame.
The foreign trade balance is negative. Last year it was minus 10 billion, this year it will be no less. How can one increase the national currency exchange rate with such a balance? The question is that there is no currency, and you lower its rate. In this way, they plant a bomb under a new government that does not yet exist. And they think that everyone around is a fool and does not understand what they are doing. You’ll have to sit in jail for that,” Kolomoisky said.
Poroshenko needed a stable hryvnia for the elections in order to show at least the appearance of economic stabilization, for which, among other things, the IMF loans were spent. Kolomoisky sees that the consequences of this policy will primarily hit Zelensky and his entourage of the ‘successful president’. And this was, of course, inherited by Volodymyr Zelensky and there’s really no way for him to “get rid of it.”
Regardless, to make things worse, negotiations with the IMF appear to be going poorly, with it continuing its demands to for Ukraine to cut social programs and to raise tariffs. All of this together can bring down the current ratings quickly enough, therefore, it is required to appoint a guilty person in advance who will be responsible for the upcoming decline in living standards.
Poroshenko is already being investigated for various corruption scandals. So one more wouldn’t be surprising, Valeriia Hontareva would possibly also be investigated. That is because Kolomoisky and Zelensky need to present a proper version of why things are falling apart.
The main thing that Zelensky and his entourage need to do is to prove to Ukrainian society that the “economic stability named after Poroshenko” was purely fictitious and based on the credit enslavement of Ukraine.
Simple enough.
But, in addition to paying old debts and interest on them, as well as eliminating the consequences of the economic policies of Poroshenko and Hontareva, it is necessary to take loans again and fulfill the requirements of creditors, that is, to do what Poroshenko did.
Proof of this is the upcoming removal of the moratorium on the purchase of Ukrainian land by transnational corporations.
Then there is the issue of the gas transit to Ukraine, which shows unwillingness to stand to any pressure from the United States, which strongly opposes any gas transit from Russia. Germany, on the other hand, is showing that it is prepared to take it and will cooperate with Russia on the Nord Stream 2. Ukraine may be faced with a dire energy situation if it doesn’t quickly establish a political will to, at least partially, stand up to the US.
But, Ukraine’s new Energy Minister Oleksiy Orzhel’s words show that it is unlikely to happen.
“For us, the priority is Naftogaz, unbundling, signing an agreement on gas transit … Now we are working on which model is the best, we talked about this with our American partners. We’ll choose the best model, the fastest certification, we need to go out in full combat readiness for negotiations with the Russian side.”
Essentially, he admitted that whatever the US will happen in Ukraine, which is a dire potential possibility.
So far, it appears that the situation in Ukraine has little difference from that during the Poroshenko era. It might even get worse.
Just recently, Zelensky noted his first “anniversary” of 100 days in office. He achieved very little, essentially nothing. He appointed some dubious ministers, as well as a figurehead Prime Minister, with very little experience.
Well, at the least, Zelensky is “fighting corruption,” after all, the Ukrainian Parliament voted in favor of removing parliamentary immunity, one of his campaign promises.
Other than that, Zelensky and his entourage spend 100 days consolidating power, making promises so that the government may also be subject to control, and then time will tell what happens onwards.
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