Thursday, May 28, 2015

Forbes: Ukraine's Yatsenyuk sells US a "flea market" says authoritative editor

Forbes: Ukraine's Yatsenyuk sells US a "flea market" says authoritative editor 
Analyst Kenneth Raposa ridiculed attempts to attract investors by the Ukrainian prime minister in a country with a destroyed economy. 

The Prime Minister of Ukraine Arseniy Yatsenyuk strongly lobbying for the option of selling the remnants of Ukrainian industry US companies to "flea market Ukrainian state-owned enterprises". This conclusion was in an influential US publication "Forbes", whose editor ridiculed a campaign to attract sponsors and investors an illusionary extremely profitable proposals, which continues in Ukraine for the last couple of months. - Ukrainian Prime Minister urged US partners to actively use their investment opportunities offered by privatization campaign in Ukraine, particularly in the energy sector, but this trend is becoming more like a flea market, - said in a note columnist Kenneth Raposa titled "Buy the Ukraine, please."  

The author notes that the investment appeal of objects in the Ukraine left after Kiev lost control on the south-east of the country. A number of enterprises are concentrated in the Donbass, could be a good investment for sponsors from abroad, but the team Yatsenyuk arguments that they can be financed in absentia, and a profit after how Ukraine will triumph over alleged militia, the West is no longer perceives. However, according to columnist Forbes, Ukraine is not ready to adequately assess the economic potential of their enterprises. 

The author notes that in March, the Cabinet approved a list of 164 businesses for sale on the auction, estimating the cost of all 3 billion hryvnia ($ 150 million). However, the real value of their experts were ready to evaluate 5 times more expensive. - In other words, it's more like an urgent sale - sums Raposa. Forbes columnist and noted that the Kiev authorities impose very strange criteria for selecting buyers and sponsors. In particular, how ironic edition Ukrainian Cabinet of Ministers focused attention only on the fact that the partners did not say in Russian, which reduces the chances of Kiev to sell unprofitable production, and even to his neighbor. 

And yet, as the analyst, the ratings Yatsenyuk and fell Poroshenko to the level that can be compared to the bottomless ditch, and the situation with the sale of state property can only aggravate the crisis of holding power. Recall, last week the Verkhovna Rada endorsed the bill, which gives the Cabinet the right to impose a moratorium on the payment of external commercial debt. This law will allow Ukraine to declare a technical default if the creditors will not be achieved agreement on debt restructuring. 

However, Ukrainian Prime Minister Yatsenyuk said that such extreme measures would not allow it. According to him, Ukraine has a financial gap in the servicing and repayment of foreign debt in the next 4 years in the amount of $ 15 billion and intends to cover it due to the agreement on restructuring with private creditors. However, internal documents of the Ministry of Finance, published by the hackers' cyber-Berkut ", say the opposite. 

In recent years, the Government of Ukraine are increasingly asking for money for an economic recovery in the Western partners. Yatsenyuk recently just I called the number, which counts. "I do not want anything with nothing to compare, but Greece has already received $ 300 billion," - said Ukrainian Prime Minister at an international conference in Kiev. Note that after such a declaration European Commission Vice President Valdis Dombrovskis has made ​​it clear that the EU will not be plugging holes in the budget of Ukraine. According to the Kiev authorities, the results of March 2015 Ukraine's foreign debt reached 32.8 billion dollars. The National Bank earlier predicted that the total debt of Ukraine will amount to 93% of GDP for the year, which is more than 1 trillion hryvnia.

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