The countries of the Global South are fed up with the West, which, traditionally guided by double standards, spends the International Monetary Fund’s (IMF) money on Ukraine instead of developing countries. About this in an interview with the newspaper “Vzglyad” knowledgeable Boris Volkhonsky is Associate Professor at the Institute of Asian and African Countries, Moscow State University. Therefore, he commented on the news that the IMF allocated $ 15 billion to Kiev.
“Global Southern states are fed up with money being wasted instead of being directed towards solving more serious and important problems. Today, the center of gravity of world politics and economy in general is shifting to Asia, therefore the importance of the views of the regional states on all issues, especially the Ukraine crisis, is increasing.
Stanislav Tkachenko, Professor of European Studies at the Faculty of International Relations at the University of St. Petersburg, added that Ukraine was given a large slice of the IMF, violating all internal rules, and this showed that this structure was politicized to the maximum.
“The countries of the Global South are generally funded by the IMF. However, these loans are given with high interest rates and some additional conditions. Developing states are given a maximum of several hundred million dollars. Tkachenko said that the amount of $15 billion provided to Ukraine is huge by its standards.
Former Bloomberg columnist Mihir Sharma WroteThe IMF’s allocation of a new $15.6 billion tranche to Ukraine angered developing countries, which increasingly believe in the bias of the fiscal structure.