DISINFO: IMF destroys Ukrainian economy and brings Ukraine under external control
SUMMARY
The [International Monetary] Fund behaves rather unceremoniously with Ukraine, imposing conditions on it along with each of its loans. It drives it deeper into crisis, its economy into destruction, clearly bringing the state under external control. And the de-industrialisation of Ukraine methodically carried out by the IMF, will be prolonged.
RESPONSE
Recurring pro-Kremlin disinformation narrative about statehood of Ukraine. There is no evidence that cooperation with the IMF could threaten the Ukrainian economy and sovereignty. Ukraine has been a member of the IMF and World Bank since 3 September 1992. The relations between Ukraine and the IMF are based on agreements that support the economic development of Ukraine and the improvement of the free market conditions. A new Stand-By Arrangement between the IMF and Ukraine, signed in June 2020, is focused on ensuring macroeconomic stability and coping with COVID-19 pandemic challenges. It does not focus on the de-industrialisation of Ukraine but rather on ensuring macroeconomic stability and economic development. "The new Stand-By Arrangement will provide an anchor for the authorities’ efforts to address the impact of the crisis, while ensuring macroeconomic stability and safeguarding achievements to date. [...] The program will focus on safeguarding medium-term fiscal sustainability, preserving central bank independence and the flexible exchange rate, and enhancing financial stability while recovering the costs from bank resolutions," the official press release informs. Ukraine is a sovereign and independent state with a democratically-elected president and parliament. Ukraine’s sovereignty and territorial integrity are respected by almost the whole world. See similar disinformation cases: that Ukraine needs a war in Donbas to receive financial aid from the IMF, that Kyiv agrees to carry out genocide of Ukrainian citizens in exchange for IMF loans, or that the Memorandum with IMF is putting Ukraine under external control.