What will aid packages and austerity do to Ukraine’s economy?

What will aid packages and austerity do to Ukraine’s economy?
What will aid packages and austerity do to Ukraine’s economy?

What will aid packages and austerity do to Ukraine’s economy?

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Both the U.S. and the E.U. have pledged aid packages to help Ukraine’s new government stabilize the country’s economy. The IMF also has a team on the ground in Ukraine, currently analyzing the country’s debt crisis. They expect to make recommendations for reforms that are required for Ukraine to secure an IMF loan. But, not everyone agrees that austerity and cuts in wages and government subsidies are good for Ukraine. Michael Hudson, professor of economics at the University of Missouri-Kansas City and author of The Bubble and Beyond, weighs in on the debate. (Photo: AP/Emilio Morenatti)