The default in Ukraine is in de facto status, and its theoretical possibility is 100%. Such opinion in the comment to “Gordon” was expressed by the economist, the president of the Ukrainian Banks Association Olexandr Sugonyako.
"What is default? Default is a failure to service external loans, which is characteristic of Ukraine. If nobody lends us money, will we be capable of servicing them? No! That means we are already in the state of default", Sugonyako declared.
According to the expert, the economy of Ukraine, as well as the possibility of default, completely depends on the behavior of external creditors. "We are dependent on whether we get the money or not. Let's suppose we do. In a year will we be able to pay off debts in a situation we have without external loans? No!" the economist considers.
According to him, Ukrainian economy has been unprofitable for a long time.
"If, since 2005, we have accumulated the external debt from $14 to $74 billion, what does it demonstrate? We live using external loans. Our economy is unprofitable, and our government is inefficient. Instead of looking for and launching internal reserves, and nobody has launched them, they wait for someone to come and make a miracle. The Germans have made their miracle themselves, as well as the Japanese did. And our politicians are dependent, they are unable to think, act and speak on their own. They are looking for someone to do everything we need to do ourselves", Sugonyako summarized.