Yanukovych regime pushes economy back towards USSR, expert says

Yanukovych regime pushes economy back towards USSR, expert says:

"In Q4 of 2013 or later, the Ukrainian government may declare a default due to its inability to repay the country’s debts, Volodymyr Lanovy, president of the Center for Market Reform, told The Tyzhden July 27. -AAA+
“The default is expected in the West. Understandably, if the cabinet offers for privatization some sizable asset and earns several billion dollars, the default will happen later. However, even this will not help settle the abominable debt,” Lanovy says.
In the coming year, Ukraine is to repay $30 bn of domestic and foreign debts.
 “Now the cabinet deals with its current commitments by building up the foreign debt,” he says.
 “The investors have definitely turned their backs on Ukraine. Assessments of Ukraine’s attractiveness are low and the foreign capital is quitting the country. The new investment comes, as a rule, from Ukrainian owners acting under the disguise of off-shore companies,” Lanovy says.  "

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