by Lyuba Lulko, Lew Rockwell:
The EU reported its willingness to provide significant financial assistance to Ukraine. This is allegedly done to cover the need of $35 billion for this and subsequent years. Experts believe that the EU will strongly promote their loan because geopolitical ambitions are at stake. But what would it mean for Kiev? Pravda.Ru tried to figure this out.
The economic situation in Ukraine is close to a collapse. The new authorities have announced that the treasury was empty, while the upcoming expenses will be significant. By July, Ukraine will have to pay $410 billion dollars of debt, and about $3 billion to Russia (including Gazprom). By the end of 2015, Ukraine must pay foreign creditors $17 billion, not including interest. The total financial needs of Ukraine for the current year are estimated by Russian economists at $25 billion, Bloomberg reported.
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