Ukraine: A banana republic without bananas

Члены Ассоциации защиты прав вкладчиков провели пикетирование Национального банка Украины с требованием возвращения депозитов. По словам собравшихся, они приурочили пикет ко дню рождения Главы Национального банка Сергея Арбузова.  Экспертно-аналитический совет по вопросам участия государства в капитализации банков при Кабинете Министров решил начать выплаты вкладчикам Родовид Банка через Государственный Ощадный банк в апреле. Об этом говорится в сообщении Национального банка со ссылкой на заместителя главы НБУ Игоря Соркина. 17 марта состоялось заседание экспертно-аналитического совета по вопросам участия государства в капитализации банков, на котором было принято решение об осуществлении выплат средств вкладчикам Родовид Банка через один из государственных банков - Ощадбанк. НБУ обратился к банкам с требованием оказать Ощадбанку соответствующую поддержку во время выплаты средств вкладчикам Родовид Банка через их банкоматы и сеть. Кроме того, было принято решение, что выплаты средств начнутся в апреле текущего года после согласования Нацбанком и правительством
Ukrainian economics is close to collapse.(Kyiv Post)

In the year since the great “revolution of dignity” Ukraine has been successfully moving towards building a specific type of economy, most similar to a “banana republic”. In fact, there is only one thing different between current Ukraine and its banana brethren in faraway Africa, Latin America, and Asia, and that is complete lack of bananas. Otherwise, a lot of characteristic features of “bananization”, including some specific changes in economic and political systems, have become very obvious. […]

Recently, in an interview with an American portal “Christian Science Monitor”, an advisor to the genius reformer Yatsenuk, one Alexander Kirsh, declared that the course for dismantling Ukrainian industry is completely intentional:

“A huge number of laborers in these dying factories is preventing Ukraine from moving towards Europe… Yes, this is going to be a painful change. But the alternative – keeping the industry, and staying friends with Russia – is much worse”.

And these are not empty threats, not at all. All the industrial complexes, as well as some key areas of infrastructure, have already closed or are on the verge of default and bankruptcy: Yuzhmash, Zaparozie car factory, Sumy factory complex, Antonov plane manufacturer, TurboAtom, Motor Sich, Kharkov Tractor plant, ElectroTyazhMash, etc. etc [huge companies, like GM or Boeing in the USA – ed.].

The metallurgical complex “MetInvest”, owned by Ahmetov, which unifies the leading metallurgical companies, declared default back in April. Recently, the country’s railroad monopolist “UkrZaliznytsya” has also declared technical default. A number of similar hugely important companies such as “Ukraine NefteGaz [Oil&Gas]”, “UkrAutoDor [Roads]”, “EnergoAtom” [Nuclear] are in the same situation, but for now they are being kept afloat with billions from state budget.

In fact, there are no large manufacturing companies in the Ukraine that have not either collapsed or on the verge of collapse. […]

Read in full Ukrainian economy after a year of “reforms”: Banana republic without bananas at Fort Russ


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