IMF demands will make most Ukrainians homeless – Finance Minister of Ukraine

So, is Finance Minister Natalie Jaresko waking up to reality?

From Fort Russ

May 14, 2015
Rusvesna
Translated by Kristina Rus

Fulfilling the requirements of the IMF will make the majority of Ukrainians homeless – said the Minister of Finance of Ukraine, according to Ukrainian portal MIGnews.

The International Monetary Fund expects the Ukrainian authorities to adopt such laws which will make the majority of the population in the country homeless, said the Finance Minister of American origin Natalie Jaresko.

According to her, one of the outstanding issues before the transfer to the Ukrainian authorities of the next IMF loan is the failure of the Verkhovna Rada to pass some bills.

In particular, the following: “The bills related to improving the capabilities of “Naftogaz” to collect their receivables. We are talking about the removal of various existing barriers, which currently do not allow this,” – said Jaresko.

According to her, there are two such problem bills. “One of these bills, I know, is on the agenda of the Verkhovna Rada on Thursday, and the second one the government will have to submit a second time, since it failed to pass”, — said the Minister of Finance.

Currently in Ukraine there is a moratorium on forced evictions of debtors. This is justified under conditions of a severe economic crisis in Ukraine, frozen wages and social benefits.

The consequence of the crisis was the rise in unemployment and a sharp fall in real incomes. People are objectively unable to pay the utility bills, which the government of Arseniy Yatsenyuk raised several times.

The second bill will make the rates profitable for the utility companies. Currently the utility companies are mostly municipal and are subsidized from the budget, operating without profit or at low profit.

The adoption of the law, rejected by Parliament, will allow to raise utility prices several more times — now by decisions of the enterprises themselves, which will be granted such a right.

The adoption of this law will make Ukrainian housing and utility services attractive for foreign companies, emphasized earlier Prime Minister of Ukraine Yatsenyuk.

In case of adoption of these IMF bills the utility rates will increase several more times, the housing sector will pass to foreign companies, which will begin evicting Ukrainians from their homes for non-payment.

Ukraine in the framework of the joint program with the International Monetary Fund expects to receive a second tranche of approximately $1.7 billion.

Is George Soros paying the salaries of Ukraine’s three new ministers?

In November, George Soros wanted the EU and the IMF to pump $20 billion to defend Ukraine.
http://www.cicero.de/presse/george-soros-fordert-20-milliarden-fuer-die-ukraine

In January, he said he wanted $50 billion.
money.cnn.com/2015/01/08/news/sorosukraine-europe-50billion/

He’s invested in Ukraine. He wants his work to succeed. Here’s an example.

From Red Pill Times, December 8, 2014

Sorostan. Is the Soros backed Renaissance Foundation paying the salaries of Ukraine’s three new government ministers?

George Soros has firmly sunk his hooks, or claws, into the rump roast that is becoming Ukraine. His Renaissance Foundation is responsible for head hunting, hiring, and apparently paying the salaries of the three new non-Ukrainian government ministers. Sorostan is born.

Possibly the world’s most evil man now has three employees nicely positioned in Ukraine’s government. And Ukrainian citizens thought their Oligarchs were crooks…they ain’t seen nothing yet.

First, a little about the Renaissance Foundation, via Wikipedia:

The International Renaissance Foundation (IRF) (Ukrainian: Міжнародний фонд “Відродження”) is a Ukrainian NGO founded by George Soros.

It was founded in April 1990. IRF is an integral part of the Open Society Foundations which incorporates national and regional foundations in more than thirty countries around the world, primarily in Central and Eastern Europe, as well as the former Soviet Union. These foundations share a common goal of supporting educational, social and legal initiatives that promote the development and establishment of an open society.

IRF is the Ukraine’s one of the largest charity organization. Its main objective is to provide financial and operational assistance to the development of an open and democratic society in Ukraine by supporting key civic initiatives in this area.

Over the period from 1990 to 2010 the International Renaissance Foundation supported numerous Ukrainian non-governmental organizations, community groups, academic and cultural institutions, publishing houses etc. in the amount of over $100 million.

From the Open Society Foundations website:

The International Renaissance Foundation’s mission is to foster an open, participatory, pluralist society based on democratic values in Ukraine. Our projects and grantmaking are guided by the principle that real change can only come if people’s rights and dignity are secured. This belief informs our pursuit of two interlinked goals: ensuring access to justice for all and empowering civil society to be a primary source of positive change in Ukraine.

The foundation works with leading Ukrainian nongovernmental groups to engage them in developing a shared public policy agenda for the country, catalyze initiatives that address corruption, and prevent backsliding from democratic reforms. Our efforts to reduce corruption in higher education have resulted in the institutionalization of anticorruption mechanisms in university admissions testing. We also support projects and groups that advance the rights of vulnerable populations, improve public health, and confront discrimination.

Read between the lines and you will understand the the Renaissance Foundation is all about regime change, in order to help make Mr. Soros and his banker clan even more rich and powerful.

The Renaissance Foundation was conveniently commissioned by President Poroshenko to head hunt for “qualified” persons willing t0 take part in Ukraine’s new  government.

Via the Kyiv Post:

Lack of public service professionals on the Ukraine labor market has pushed the government to look abroad for qualified applicants who can take positions.

Prague-based Pedersen & Partners and Korn Ferry, global head hunting firms, have found 185 potential employees, many of whom are members of Ukrainian community in Canada, the U.S. and the U.K.

The Renaissance Foundation, a global network of policy consulting centers launched by American billionaire George Soros, has sponsored the headhunting process. It paid as much as $82,200 to two companies involved in finding the capable employees for the government agencies.

As of now, Ukrainian legislation doesn’t allow the foreigners to hold any public offices, which is why those who’ll accept the government’s job offers will have to take Ukraine’s citizenship. Meanwhile, dual citizenship is not allowed.

President Petro Poroshenko during his Nov. 27 speech in parliament offered to allow the foreigners be officially employed in the country’s government. Moreover, he asked the lawmakers to provide him with legal tools to grant Ukrainian citizenship through special decrees.

Meanwhile, Natalie Jaresko, U.S. citizen of Ukrainian descent and chief executive officer of Horizon Capital, a private equity fund with $650 million in assets, is considered to be a candidate for the position of finance minister, according to the Kyiv Post research.

Continue reading

IMF: Ukraine must now steal $1.5 Billion+ from Russia to buy weapons

Originally from Deutsche Wirtschafts Nachrichten
March 24, 2015
Posted on Global Research

IMF: Ukraine will not pay back [part of] its debts to Russia

German Economic News  |  Published: 03/24/15 00:25 clock [Translation, and interspersed notes, by Eric Zuesse.]

In December, a multi-billion-dollar loan [variously stated as $3-$3.5 billion] to Ukraine comes due, which Ukraine had received from Russia. The IMF has provided a new debt plan, however, dictating that existing loans to Ukraine that have an expiration-date are to be subjected to a haircut. Thus, the resource gap of the country totaling $40 billion is to be reduced.

Since the crisis, Ukraine has received several loans from the IMF and the EU [and the U.S.]. These loans must be repaid in a few years from now. However, the financial situation of the country remains vulnerable. Over the next four years overdue loans totaling $15 billion need to be paid [they’re mostly loans from Russia]. Only three billion of them are an old loan Russia that has to be paid in December of this year. The IMF might prevent it [from being repaid in full, even though it has seniority over the new loans that are coming from the West].

The IMF has developed a program for Ukraine, under which the current financial hole is to be filled in the amount $40 billion. The due debts [the senior debt] are part of the plan, and will be restructured, according to the IMF. Exactly how it is to happen, the IMF does not explain. Experts say that the IMF believes that Russia should participate in a haircut. The Financial Times reports [“Bailout projections indicate Ukraine will not repay Russia debt” 5:21 PM, 22 March 2015] that the IMF requires that Russia’s $3.5 billion bond issue be included in the restructuring. Charles Blitzer, a former IMF employee, has informed the FT of this.

However, Blitzer is uncertain how large the haircut will be. ”It is up to the Ukrainian authorities to determine the extent and nature of the debt restructuring,” he said. [In other words: the IMF will grant Ukraine the right to determine how much of that $3-3.5B will be repaid to Russia. The Kyiv Post puts it this way: “Kyiv does not intend to fully repay a $3 billion bond owed to Russia this year according to official projections underpinning Ukraine’s new international bailout, say credit experts.”] Government sources close to the matter estimate that there will be a planned debt reduction of 50 percent. ”But creditors would rather try to agree on a term extension,” said Blitzer.

Whether all international creditors will accept a haircut, and if so, to what extent, is not yet clear. Last week, Russian Finance Minister Anton Siluanow said that Russia still expects that the $3.5B debt will be repaid this December in full. And Franklin Templeton [Funds], the largest bondholder of Ukraine, has brought in Blackstone legal help for debt negotiations.

Last week, the Ukrainian Finance Minister [the American] Natalija Jaresko told the WSJ that so far pledged loans to Ukraine [$40B] will not be enough to bring Ukraine back onto its feet. ”The package will stabilize the banking system, but it is not enough to seriously re-stimulate growth,” said Jaresko. ”I need more support.” She said that no nation currently pays more to protect the entire world from a nuclear power [Russia] than does Ukraine, and that, “if our partners, for whatever reason, are not able to assist us with defensive military means, then they should provide us more financial assistance [so that we can buy the weapons against Russia ourselves].”

This past Friday, the Ukrainian central bank had to explain why three of Ukraine’s banks were being declared insolvent. The VAB Bank, Astra Bank and the City Commerce Bank are now deprived of their licenses. At the same time, Ukraine is already planning an expansion of military resources. In sum, for the year of 2015, a total of $3.8 billion will be spent on armaments. [This by a country that cannot even pay its bondholders, when all of the new Ukrainian bonds are actually paying only for Ukraine’s war against the residents of its own former Donbass region.]

Investigative historian Eric Zuesse is the author, most recently, of  They’re Not Even Close: The Democratic vs. Republican Economic Records, 1910-2010, and of CHRIST’S VENTRILOQUISTS: The Event that Created Christianity, and of Feudalism, Fascism, Libertarianism and Economics.

http://www.globalresearch.ca/imf-ukraine-must-now-steal-1-5-billion-from-russia-to-buy-weapons/5438508

John Pilger on modern fascism and the lies of America’s warmongers

Why the rise of fascism is again the issue
By John Pilger
February 26, 2015

ukraine-riots-33

The recent 70th anniversary of the liberation of Auschwitz was a reminder of the great crime of fascism, whose Nazi iconography is embedded in our consciousness. Fascism is preserved as history, as flickering footage of goose-stepping blackshirts, their criminality terrible and clear. Yet in the same liberal societies, whose war-making elites urge us never to forget, the accelerating danger of a modern kind of fascism is suppressed; for it is their fascism.

“To initiate a war of aggression…,” said the Nuremberg Tribunal judges in 1946, “is not only an international crime, it is the supreme international crime, differing only from other war crimes in that it contains within itself the accumulated evil of the whole.”

Had the Nazis not invaded Europe, Auschwitz and the Holocaust would not have happened. Had the United States and its satellites not initiated their war of aggression in Iraq in 2003, almost a million people would be alive today; and Islamic State, or ISIS, would not have us in thrall to its savagery. They are the progeny of modern fascism, weaned by the bombs, bloodbaths and lies that are the surreal theatre known as news.

Like the fascism of the 1930s and 1940s, big lies are delivered with the precision of a metronome: thanks to an omnipresent, repetitive media and its virulent censorship by omission. Take the catastrophe in Libya. Continue reading

Ukraine Finance Minister Jaresko’s questionable activities

From Consortium News, February 18, 2014
By Robert Parry

Ukraine’s new Finance Minister Natalie Jaresko, who has become the face of reform for the U.S.-backed regime in Kiev and will be a key figure handling billions of dollars in Western financial aid, was at the center of insider deals and other questionable activities when she ran a $150 million U.S.-taxpayer-financed investment fund.

Prior to taking Ukrainian citizenship and becoming Finance Minister last December, Jaresko was a former U.S. diplomat who served as chief executive officer of the Western NIS Enterprise Fund (WNISEF), which was created by Congress in the 1990s and overseen by the U.S. Agency for International Development (U.S. AID) to help jumpstart an investment economy in Ukraine.

But Jaresko, who was limited to making $150,000 a year at WNISEF under the U.S. AID grant agreement, managed to earn more than that amount, reporting in 2004 that she was paid $383,259 along with $67,415 in expenses, according to WNISEF’s public filing with the Internal Revenue Service.

Later, Jaresko’s compensation was removed from public disclosure altogether after she co-founded two entities in 2006: Horizon Capital Associates (HCA) to manage WNISEF’s investments (and collect around $1 million a year in fees) and Emerging Europe Growth Fund (EEGF) to collaborate with WNISEF on investment deals.

Jaresko formed HCA and EEGF with two other WNISEF officers, Mark Iwashko and Lenna Koszarny. They also started a third firm, Horizon Capital Advisors, which “serves as a sub-advisor to the Investment Manager, HCA,” according to WNISEF’s IRS filing for 2006.

U.S. AID apparently found nothing suspicious about these tangled business relationships – and even allowed WNISEF to spend millions of dollars helping EEGF become a follow-on private investment firm – despite the potential conflicts of interest involving Jaresko, the other WNISEF officers and their affiliated companies.

For instance, WNISEF’s 2012 annual report devoted two pages to “related party transactions,” including the management fees to Jaresko’s Horizon Capital ($1,037,603 in 2011 and $1,023,689 in 2012) and WNISEF’s co-investments in projects with the EEGF, where Jaresko was founding partner and chief executive officer. Jaresko’s Horizon Capital managed the investments of both WNISEF and EEGF.

From 2007 to 2011, WNISEF co-invested $4.25 million with EEGF in Kerameya LLC, a Ukrainian brick manufacturer, and WNISEF sold EEGF 15.63 percent of Moldova’s Fincombank for $5 million, the report said. It also listed extensive exchanges of personnel and equipment between WNISEF and Horizon Capital. But it’s difficult for an outsider to ascertain the relative merits of these insider deals and the transactions apparently raised no red flags for U.S. AID officials.

Bonuses for Officers

Regarding compensation, WNISEF’s 2013 filing with the IRS noted that the fund’s officers collected millions of dollars in bonuses for closing out some investments at a profit even as the overall fund was losing money. According to the filing, WNISEF’s $150 million nest egg had shrunk by more than one-third to $94.5 million and likely has declined much more during the economic chaos that followed the U.S.-back coup in February 2014.

But prior to the coup and the resulting civil war, Jaresko’s WNISEF was generously spreading money around. For instance, the 2013 IRS filing reported that the taxpayer-financed fund paid out as “expenses” $7.7 million under a bonus program, including $4.6 million to “current officers,” without identifying who received the money. Continue reading

The West’s agri-business conglomerates take over Ukraine

Two reports by Oakland Institute are linked in the footnotes below the article.

From Asia Times, January 28, 2015
By Frederic Mousseau

At the same time as the United States, Canada and the European Union announced a set of new sanctions against Russia in mid-December last year, Ukraine received US$350 million in US military aid, coming on top of a $1 billion aid package approved by the US Congress in March 2014. 

Western governments’ further involvement in the Ukraine conflict signals their confidence in the cabinet appointed by the new government earlier in December 2014. This new government is unique given that three of its most important ministries were granted to foreign-born individuals who received Ukrainian citizenship just hours before their appointment.

The Ministry of Finance went to Natalie Jaresko, a US-born and educated businesswoman who has been working in Ukraine since the mid-1990s, overseeing a private equity fund established by the US government to invest in the country. Jaresko is also the CEO of Horizon Capital, an investment firm that administers various Western investments in the country.

As unusual as it may seem, this appointment is consistent with what looks more like a takeover of the Ukrainian economy by Western interests. In two reports – “The Corporate Takeover of Ukrainian Agriculture” [1] and “Walking on the West Side: The World Bank and the IMF in the Ukraine Conflict” [2] – the Oakland Institute has documented this takeover, particularly in the agricultural sector.

A major factor in the crisis that led to deadly protests and eventually to president Viktor Yanukovych’s removal from office in February 2014 was his rejection of a European Union Association agreement aimed at expanding trade and integrating Ukraine with the EU – an agreement that was tied to a US$17 billion loan from the International Monetary Fund (IMF).

After the president’s departure and the installation of a pro-Western government, the IMF initiated a reform program that was a condition of its loan with the goal of increasing private investment in the country.

The package of measures includes reforming the public provision of water and energy, and, more important, attempts to address what the World Bank identified as the “structural roots” of the current economic crisis in Ukraine, notably the high cost of doing business in the country.

The Ukrainian agricultural sector has been a prime target for foreign private investment and is logically seen by the IMF and World Bank as a priority sector for reform. Both institutions praise the new government’s readiness to follow their advice.

For example, the foreign-driven agricultural reform roadmap provided to Ukraine includes facilitating the acquisition of agricultural land, cutting food and plant regulations and controls, and reducing corporate taxes and custom duties.

The stakes around Ukraine’s vast agricultural sector – the world’s third-largest exporter of corn and fifth-largest exporter of wheat – could not be higher. Ukraine is known for its ample fields of rich black soil, and the country boasts more than 32 million hectares of fertile, arable land – the equivalent of one-third of the entire arable land in the European Union.

The maneuvering for control over the country’s agricultural system is a pivotal factor in the struggle that has been taking place over the last year in the greatest East-West confrontation since the Cold War.

The presence of foreign corporations in Ukrainian agriculture is growing quickly, with more than 1.6 million hectares signed over to foreign companies for agricultural purposes in recent years. While Monsanto, Cargill, and DuPont have been in Ukraine for quite some time, their investments in the country have grown significantly over the past few years.

Cargill is involved in the sale of pesticides, seeds and fertilizers and has recently expanded its agricultural investments to include grain storage, animal nutrition and a stake in UkrLandFarming, the largest agribusiness in the country.

Similarly, Monsanto has been in Ukraine for years but has doubled the size of its team over the last three years. In March 2014, just weeks after Yanukovych was deposed, the company invested $140 million in building a new seed plant in Ukraine.

DuPont has also expanded its investments and announced in June 2013 that it too would be investing in a new seed plant in the country.

Western corporations have not just taken control of certain profitable agribusinesses and agricultural activities, they have now initiated a vertical integration of the agricultural sector and extended their grip on infrastructure and shipping.

For instance, Cargill now owns at least four grain elevators and two sunflower seed processing plants used for the production of sunflower oil. In December 2013, the company bought a “25% +1 share” in a grain terminal at the Black Sea port of Novorossiysk with a capacity of 3.5 million tonnes of grain per year.

All aspects of Ukraine’s agricultural supply chain – from the production of seeds and other agricultural inputs to the actual shipment of commodities out of the country – are thus increasingly controlled by Western firms.

European institutions and the US government have actively promoted this expansion. It started with the push for a change of government at a time when president Yanukovych was seen as pro-Russian interests. This was further pushed, starting in February 2014, through the promotion of a “pro-business” reform agenda, as described by the US Secretary of Commerce Penny Pritzker when she met with Prime Minister Arsenly Yatsenyuk in October 2014.

The European Union and the United States are working hand in hand in the takeover of Ukrainian agriculture. Although Ukraine does not allow the production of genetically modified (GM) crops, the Association Agreement between Ukraine and the European Union, which ignited the conflict that ousted Yanukovych, includes a clause (Article 404) that commits both parties to cooperate to “extend the use of biotechnologies” within the country.

This clause is surprising given that most European consumers reject GM crops. However, it creates an opening to bring GM products into Europe, an opportunity sought after by large agro-seed companies such as Monsanto.

Opening up Ukraine to the cultivation of GM crops would go against the will of European citizens, and it is unclear how the change would benefit Ukrainians.

It is similarly unclear how Ukrainians will benefit from this wave of foreign investment in their agriculture, and what impact these investments will have on the seven million local farmers.

Once they eventually look away from the conflict in the Eastern “pro-Russian” part of the country, Ukrainians may wonder what remains of their country’s ability to control its food supply and manage the economy to their own benefit.

As for US and European citizens, will they eventually awaken from the headlines and grand rhetoric about Russian aggression and human rights abuses and question their governments’ involvement in the Ukraine conflict?

Frederic Mousseau is Policy Director at the Oakland Institute.
http://www.oaklandinstitute.org

[1] http://www.oaklandinstitute.org/corporate-takeover-ukrainian-agriculture
The Corporate Takeover of Ukrainian Agriculture

[2] http://www.oaklandinstitute.org/walking-west-side-world-bank-and-imf-ukraine-conflict
Walking on the West: the World Bank and the IMF in the Ukraine Conflict
http://www.oaklandinstitute.org/press-release-ukraine-brief-russian-language

Source:

http://atimes.com/atimes/Central_Asia/CEN-02-280115.html
http://www.globalresearch.ca/gmo-crops-for-ukraine-the-wests-agri-business-conglomerates-snap-up-ukraines-bread-basket/5428060

U.S. citizens continue to infiltrate Eastern European governments

Posted on Strategic Culture, December 30, 2014
by Wayne Madsen

The recent appointment of the austerity-loving U.S. citizen and investment firm chief Natalie Jaresko as Ukraine’s Finance Minister continues a trend that has seen one Eastern European country after another appointing or electing U.S. citizens as major government officials. Jaresko had Ukrainian citizenship conferred on her by Ukrainian President Petro Poroshenko as she arrived in Kiev to take up her new post in the government of Prime Minister Arseniy Yatsenyuk, himself a former legal U.S. resident who has been linked to the crypto-Satanic Church of Scientology.

Jaresko is involved in contentious asset redistribution court battles with her ex-husband, Ihor Figlus. Together, the two managed the Kiev-based Horizon Capital, established 20 years ago with a $150 million grant from the U.S. Agency for International Development (USAID). Horizon Capital operated the Emerging Europe Growth Fund, a group charged with illegal insider trading of Ukrainian securities. According to court divorce documents, Horizon Capital bought Ukrainian artwork, Georgian carpets, expensive cars, and antique furniture, all of which are now subject to the battle for ownership between Jaresko and Figlus. Jaresko also managed the USAID-financed Western NIS Enterprise Fund (WNISEF), a CIA contrivance that steered U.S. investment dollars into «pro-democracy» movements in Moldova and Belarus and laundered much of the $5 billion in U.S. aid for the Maidan Square coup in Kiev that ousted President Viktor Yanukovych.

Jaresko’s arrival in Kiev was shortly followed by that of former Reno, Nevada assistant police chief Ron Glensor, who became an official adviser to the Ukrainian police with an initial posting at the Ministry of Internal Affairs for the Khmelnytsky region. Glensor has been very active with the U.S. Department of Justice’s International Criminal Investigative Training Assistance Program (ICITAP). Glensor is also a former fellow of the Police Executive Research Forum (PERF) in Washington, D.C. In August 1999, The Progressive magazine reported that «Janice Stromsen, a career employee of the Justice Department who served as ICITAP’s director, resisted the program’s takeover by CIA elements. In February [1999], Stromsen was relieved of her duties after complaining to the Justice Department Inspector General that ICITAP was being used by the CIA to recruit agents among foreign police officials». Continue reading