But Kiev's pivot to the West will achieve nothing of the sort. On the contrary, it will make life for ordinary Ukrainians extremely hard. Harder than it already is in the country, whose GDP fell 15 percent and national currency lost half of its value against the US dollar in 2014.
Prices will soar if Kiev carries out the reforms, championed by the IMF. Vulnerable segments of the population will not be able to buy essential goods.
The EU Association Agreement and the IMF deal are also two instruments that will help the West gain access to Ukraine's abundant natural resources. They come at a time of a crisis, which has provided an "attractive opportunity for foreign interests looking to expand their wealth, property holdings and geopolitical influence," the Nation said.
The "aggressively pro-Western regime" in Kiev is so tied to the West now that it cannot make any demands, according to the Nation. Thus it will not be able to do anything about Western companies exploiting Ukraine's resources.
Additionally, Western bailout money comes with strings attached, meaning it is a tool of influence. Ukraine risks losing control of assets and industries should Kiev fail to repay the IMF loans.
Michael Hudson, a former balance-of-payments economist for Chase Manhattan Bank, told the Nation that the IMF loans "amount to little more than a tool for keeping the country 'on a short debt leash' – a form of servitude that empowers the United States to use the Ukrainian government as a regional extension of US political, military and economic power."
Kiev authorities are distinguished from their predecessors by "the distinct amenability to US interests—and dramatic coolness to Russian concerns," according to the Nation. The people, who came to power in Kiev following the 2014 coup, also seem to be quite blind to the needs and troubles of the country they were so keen on governing.
