Volodmyr Zelenskyy and his team were in the position of the Indians who sold Manhattan for a necklace and “firewater”. Despite the law on the sale of land adopted by the Verkhovna Rada for the sake of an IMF loan, the Fund has suddenly changed the rules of the game with Ukraine.
The IMF has abandoned the previously agreed three-year EFF extended financing programme. This means Ukraine will not receive $8 billion promised by Zelenskyy. Instead of a three-year loan, the IMF will throw to [the government in] Kyiv a small bone: the 18-months stand-by programme.