Open AccessPOST-SOVIET ROOTS OF UKRAINE’S INTERNATIONAL FINANCIAL PROBLEMS
Author(s) -
Borys Soboliev
Publication year - 2017
Publication title -
vìsnik ternopìlʹsʹkogo nacìonalʹnogo ekonomìčnogo unìversitetu
Language(s) - English
Resource type - Journals
eISSN - 2706-8765
pISSN - 1993-0240
DOI - 10.35774/jee2017.04.444
Subject(s) - successor cardinal , creditor , political science , economic policy , economic history , financial system , business , economy , economics , finance , debt , mathematical analysis , mathematics
Ukraine has inherited a whole array of international financial problems from the USSR. The USSR problems with public finances were transmitted to all states-successors, Ukraine included. Joint and several liabilities for the successors failed under the «0 option» solution which had deprived successor’s states of all liquid assets conquered by Russia. Ukraine had nothing to do with the collapse of the Ruble zone because Ukraine had been made by Russia to leave that zone. The Paris and London clubs of creditors have nudged Ukraine into the Breton Woods institutions. 25 years of 6 various programs with the IMF and the World Bank Group have not yet produced an anticipated effect. The committed billions in fact were disbursed up to 30-40%%. The author put some efforts to investigate the core reasons.