The 2012 IMF/Ukraine Negotiations
the IMF demanded that Ukraine double prices for gas and electricity to industry and homes, that they lift a ban on private sale of Ukraine’s rich agriculture lands, make a major overhaul of their economic holdings, devalue the currency, slash state funds for school children and the elderly to “balance the budget.”
This is what the IMF does to your country. Note that 4 billion doesn’t even come close to covering Ukraine’s debts. Moscow offered 15 billion and a one-third reduction in natural gas prices.
If the Ukraine wants something close to prosperity, this is a sideshow. The first thing they have to do is destroy their own oligarchs: take away their money and power.
But remember how the West squealed when Putin brought his oligarchs to heel? Or at Venezuelan redistribution? Oligarchs are even more sacrosanct in the West than the East. The IMF would never allow the Ukraine to destroy their oligarchs and throw them all in jail.
The next step after that would be solidly reorient to China. They want Ukraine’s food, and the Chinese are willing to pay a premium for the resources they buy, at least by developing world standards (and that this point, that’s what Ukraine is.) What, exactly the Ukraine thinks it will sell the West is beyond me: their Soviet era factories don’t make anything we want, and the West heavily subsidizes its own agricultural production.