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The Government Decided to Put the Debt Pyramid Construction Back in Order

13 October, 00:00

The Cabinet of Ministers and the Ministry of Finance have formed UkrSpetsfin, the Ukrainian Specialized Financial Enterprise.
 
The purpose of the enterprise is a good one: to pay off tax debts to the budget by introducing other financial methods, alternatives to mutual write-offs, and bills of exchange issued by enterprises-debtors, including received foreign loans under government guarantee.

The United Energy Systems of Ukraine established back in its time a system of mutual write-offs and services between cooperating enterprises. The corporation managed to make good money out of that because it was based on financial motivations for the members and non-members of the corporation, and performed with  miraculous flexibility and operational velocity. Apparently the laurels of the UESU bother our Financial Ministry.

However, The Day experts point out that this state institute has already successfully ruined the financial pyramid of domestic bonds. And one of the top-level state officials who was responsible for international debts is reported to have moved away from Ukraine, now working for the foreign company which he gave permission to finance Ukraine back in time. And a new organization has been formed to deal with domestic bonds selling everywhere. Can it, however, happen that the debt streams will flow out of the budget, instead of flowing in?

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