Voices from Russia

Monday, 17 August 2015

Ex-Finance Minister sez the Ukraine Already in Default

00 Grivnya down the hatch. 21.02.15


On Saturday, ex-Ukrainian Finance Minister V M Pinzennik admitted that since the Ukrainian government is trying to restructure the state debt, it means that it’s already in default. Pinzennik, now a Rada Peoples Deputy (Vitaly Klitchko’s UDAR bloc), said on Kiev-based TV outlet 112 Ukraina, “Finance Minister Natalie Jaresko botched negotiations with creditors, but even if she hadn’t, this wouldn’t stave off the inevitable. I think that the main problem that the Ukraine now faces is the cause of the current economic crisis. Restructuring the debt won’t solve the main problem, which is the budget deficit. Everyone believes that by restructuring the debt we’d solve all our problems. I don’t think so. The main trouble is that this country spends more than it earns”.

16 August 2015

Sputnik International


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