CASE Ukraine`s Senior Economist Vladimir Dubrovsky clarified during the ‘Hromadska Hvylya’ broadcast the difference between macro-financial assistance from the European Union and the IMF. He also described the essence of the ‘Marshall Plan’ after the Second World War.
According to him, they do not resemble one another. IMF loans are not intended to have any political goals that were at one time defined in the ‘Marshall Plan’. The aims – in the case of the IMF –are its statutory tasks: maintaining macroeconomic stability in those countries with which it works. This support is both financial and technical.
That is, the IMF at the same time provides loans and checks the policies of these countries for compliance with the criteria that suggests claiming that this is a responsible policy, that it will not lead to the destabilization, that this country is solvent. Therefore, when this conclusion is done, other lenders also use it.
Volodymyr Dubrovsky also said the reforms take place in response to the financial or fiscal crisis, that is, when the government has no money or when there is a threat, and then the government starts to do something.