JohninMK Tue Dec 01, 2015 11:43 am
Here we go, one to make you smile and two to show the international finance system is just for show.
The US was found to have sent mostly outdated military equipment to Ukraine, as trust issues and corruption continue to degrade Ukraine's military supply.
Although the US Congress recently approved $300 million in lethal aid for Ukraine as part of its National Defense Authorization Act (NDAA), the country continues to receive mostly outdated and used US military equipment, according to the Washington Post. However, the outmoded equipment could be the result of Ukrainian military corruption, and not only incompetence in the US military bureaucracy. Previous shipments of meals ready-to-eat (MREs) previously ended up on online auction sites such as eBay according to reports, while more sensitive high-tech equipment, which faces export controls in the US, runs the risk of being captured or similarly sold off. One infantry unit of 120 men received a single bulletproof jacket from the US, according to the report.
"If the Americans are going to send us equipment, don’t send us secondhand stuff," one Ukrainian special forces commander said. The Washington Post report mentioned equipment such as Humvees with worn-out tires and plastic doors. Both a lack of funding and preparation have been blamed in the US. The US sent around 100 Humvee jeeps to Ukraine, although most of them appear to be meant for spare parts, according to an official interviewed by the publication.
The Ukrainian military has also lost sensitive equipment such as an AN/TPQ-49 lightweight counter-mortar radar, which was lost during Kiev's retreat from the town of Debaltsevo, according to the New York Times.
The US plans to send more equipment to Ukraine as its frozen conflict with Donbass independence supporters continues, although the Obama administration has so far refrained from sending deadly weapons, which have been referred to as "lethal aid."
Read more: http://sputniknews.com/europe/20151201/1031033684/us-ukraine-obsolete-aid.html#ixzz3t4IjnD1g
WASHINGTON (Sputnik) – The International Monetary Fund board of directors will meet in early December to discuss changing the crediting rules to permit the sovereign debt default of the debtor, a source said. "[The meeting]is scheduled for early December," the source told RIA Novosti.
The source did not elaborate on the date, only adding that it was not final and the meeting had previously been postponed. The IMF has been discussing the reform for over five years, but the acceleration of discussions on the issue is likely to be linked to the possibility of Ukraine defaulting on the Russian debt.
Ukraine’s debt amounts to $70 billion of which some $40 billion the country owes to international money lenders. Of that amount, Ukraine owes Russia $3 billion and is required to pay it back by the end of 2015.
Read more: http://sputniknews.com/europe/20151201/1031024035/imf-defaulted-debtors-loans.html#ixzz3t4Hw3eGi
Ukraine's finance ministry has submitted its new budget proposal, which it hopes will allow it to avoid a freeze of IMF funding over disagreements with the country's parliament. Ukraine's new budget totals $28.1 billion with a $3.4 billion deficit, according to a new document issued by the country's finance ministry. To accommodate the country' new tax system, the finance ministry seeks $2.5 billion in budget cuts, while the country's parliament seeks to cut $8.4 billion. The finance ministry considers the cuts unsustainable.
The International Monetary Fund has frozen another $1.7 billion tranche for Ukraine because of disagreements over tax reforms. Both the parliament and the finance ministry seek to have a military budget of between $3.5 billion and $7 billion, which could make it total more than a third of the national budget if the parliamentary cuts are passed.
According to IMF projections, Ukraine's nominal GDP for 2015 is estimated at around $90.1 billion. The economy is expected to surpass its 2010 levels by 2020, according to its estimates. New IMF funds may also be frozen if Ukraine fails to repay the $3 billion it owes Russia.
Read more: http://sputniknews.com/europe/20151201/1031029003/ukraine-finance-ministry-budget.html#ixzz3t4IFlhY1