This year, the Ukraine will begin the process of a huge round of privatisation of it’s state companies.
The country, which is currently receiving money in the form of a bailout from the IMF, has 3,300 state owned enterprises.
The first instalment of the current IMF loan has just come through, and the country has to give promises of privatisation in exchange.
The largest of these by far, is state gas company Naftogaz, who employ over 170,000 people.Oligarchs and banksters love oil companies...
Finance Minister, US born, Natalia Jaresko(va) said, “By the end of April, we have prepared a plan for the restructuring of public enterprises, and the implementation of privatization”.Digression- US Born, given Ukrainian Citizenship in order to assist with the bankster plunder!
Foreign technocrats given Ukrainian citizenship before cabinet vote
One of the three is Natalie Jaresko, a U.S. citizen and chief executive of private equity group Horizon Capital. She has worked in Ukraine for more than 20 years after holding various economic positions in the U.S. State Department
Last year, during the initial IMF bailout, Prime Minister Arseniy Yatsenuk announced, “the Ukraine will experience the largest privatization plan in its history”.
IMF and the Privatisation Program
The International Monetary Fund has in the past been very controversial in the demands it makes of itself.
The so called, ‘Washington Consensus’ became a buzz word for its policy implementations for African and South American economies that it helped in the 1980s and 1990s.
The results of these policies were often mixed, and the benefit to the countries people is still questioned today.
The Guardian last year questioned the previous IMF bailout in the Ukraine. It pointed the potential of the forcing of wage decreases on state owned companies, that are then subsequently privatised. The result, would lead to larger profits of the companies, but only to the benefit of the new owners.
The details of what proportion of the 3,300 state owned enterprises will be privatised have yet to be announced.The sell offs guarantee another generation of oligarchs, therefore, there is no real concern about that occurring.
However, in an outline plan released last year, the government spoke of selling its 50% stake in Ukrneft, the state oil company, and also its 75% stake in a hydroelectric plant, called Turboatom.
The government sell-offs later in the year, will raise concerns of the birth of another generation of oligarchs.
Today's multiple postings- Yup, I got behind!