Paskhaver: If reforms do not begin, there is a threat of economic collapse, not even default

Aleksandr Paskhaver
Aleksandr Paskhaver
Photo: radiosvoboda.org

Financial support of the West saves Ukraine from the problems with payments for external obligations, the famous economic expert and President of the Center of Economic Development Alexander Paskhaver declared.

There will be no default in Ukraine as long as the West gives money for the country’s repaying debts,  the economic expert Alexander Paskhaver said in the comment to the  GORDON .

"There will be no default in Ukraine as we are solvent and receive financial aid. For this only reason. If Ukraine was not provided assistance, we would have had problems with external obligations long ago. As long as we are given money for repaying debts, default can hardly be expected. Such assistance is political money. When you ask whether there is a threat of a default, you do not ask whether there is a threat of a default in the conditions of opposition against Russia. I will answer that in the conditions of opposition against Russia there is no threat of a default, it would be bad if there were no opposition," the expert reported.

According to him, there is a threat of economic collapse in Ukraine, rather than a default.

"There is no threat of default now, and we will see what will come next, after all, help is limited, too. The word "default" is simply a symbol. Let us replace the word "default" with a much scarier word "collapse". If we do nothing, there will be a threat of collapse rather than just a default. Collapse is a loss of control over economy when the steering wheel stops working. Imagine a car on the road, and the wheel does not work, it is how the state will look like if we do nothing," Paskhaver declared.

The economist considers that reforms should be initiated as soon as possible.

"It is necessary to carry out system reforms and begin with corruption. The sooner we begin the better. Results will not even be so crucial; the most important thing is that the whole world will see that we really do something. It will be enough," Paskhaver said.





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