Ukraine might fall prey to global restructuring of world economies – Yermolayev

October29200818:57

“Despite political battles in Ukraine, I am an optimist and believe that the country will overcome the threat of a technical default. It is unclear, however, whether Ukraine economy will grow in 2009 because there are no long-term development programs or consolidated business elite. The government resembles a team of firemen - nothing else,” he claims.

In his opinion, the global crisis is not limited to finance. It may last for several years, hitting the economies of the developed countries as well. Meanwhile, unstructured Ukraine’s economy may fall prey to the global restructuring of world economies.

Some experts indicate that Ukraine cannot do without the IMF loan of $16.5 billion, he says, noting at the same time that the loan won’t help or hurt Ukraine much.

“I do not exclude that the loan can be used by corrupt government officials to line their pockets,” the expert warned.