Department of Economics, University of Missouri, Kansas City, USA

ABSTRACT

This paper examines the politics of two rival loans to Ukraine, one from Russia and one from the IMF. While the Russian loan was made at the behest of the elected government of Ukraine as a gesture of solidarity between two closely intertwined post-Soviet economies experiencing similar difficulties, the IMF loan was not only a tool of vain US policy to retain purchase on fast-developing events in Ukraine, it was made in violation of the IMF’s own rules. The loans form a critical chapter the contemporary transition from the geopolitical economy of US and Western dominance to one of multipolarity.

KEYWORDS

New Cold War; International Monetary Fund; US power; multipolarity; Russia; Ukraine

From: International Critical Thought 2016 6 (4)

Editor: Wang Yi