"Ukraine will handle the consequences of the economic crisis, Viktor Yushchenko is sure. The country was given $4.5 billion out of the $16-billion loan, and the president decided to control the distribution of means personally.

Having heard the decision of the president, Viktor Yanukovych reacted immediately. He is concerned that these means can be cleaned out during the distribution process. As a result, he also intends to control the means personally.

While Ukrainian politicians are competing, IMF officials note that the next tranche and its program for Ukraine will depend on further policy of the Ukrainian authorities.

Leading Ukrainian politicians and sociologists expressed their opinions on possible scenarios of the world crisis and its influence on the economy of Ukraine.

Iryna Akimova, a Party of Regions deputy, economy minister of the shadow cabinet:

- Economy of Ukraine is open for both positive and negative influences of the global process. Now it is open for a wave of economic depression and financial crisis.

And this wave may bring a threat for democracy. If our young political democracy is not supported by structural reforms and macroeconomic stabilization, the process of economic development might slow down.

It is very important that despite a party in office the process of economic reforms must go on.

Serhiy Kudela, advisor of a vice premier on humanitarian affairs:

- Under the terms of the global crisis the Ukrainian government should pursue a preemptive tactic in order to be able to resist transnational economic challenges.

One of the biggest problems of the Ukrainian society is impossibility to consolidate efforts around common problems. Representatives of the society don't have collective vision. But if we don't unite our efforts, we will never become leaders.

Yaroslav Zhalilo, the head of the economic and social strategies department of the National institute of strategy:

- Terms of the memorandum with International Monetary Fund are positive for a short-term prospect, but will have negative consequences for Ukrainian economy in the future.

A paragraph on reduction of domestic demand is among objective minuses. This norm is illogical, as under the conditions of the crisis it is necessary to look for marketing outlets for domestic enterprises, which were focused on export earlier.

IMF demands aimed at restraint of economic growth and at narrowing of domestic consumption in Ukraine. Hence, IMF demands will have depressing influence on our economy.

Oleksandr Paskhaver, director of the Center of economic development:

- In my opinion, the government is rather effective under the conditions of the crisis. It acts faster than many other governments.

But the point is whether it can act even faster. The crisis is a test for the power, for entrepreneurs and for workers. We must understand that we work under new competitive conditions.

Natalia Korolevska, a BYuT deputy, chairman of the VR committee on industrial policy and entrepreneurship:

- The ball of economic problems will disperse by the end of the year. We should take a sober view of things and resist depression and lack of trust.

The marker must be open. It is necessary to restore an open dialogue between the power and business, as representatives of real economy can reveal problem spots and determine accents.

Today Ukraine needs infrastructure projects. We must understand the crisis will be over one day, and our country must be ready, as we have an opportunity to use this crisis and to become a new player on the post-crisis space. Modernizing agricultural complex and metallurgy we can create domestic market for these industries, as well as to protect foreign markets, closure of which brought suffering for Ukrainian economy.


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