PRESIDENT AGAIN FACES CRISIS Responsibility already shared with Parliament, just in case

Official Kyiv is feverishly preparing to receive an IMF mission scheduled to arrive July 23. Sources in the Presidential Administration maintain that this inspection tour could be the final one, meaning that the IMF officials could finally advise the IMF Board to adopt the EFF program for Ukraine.

To this end the Ukrainian side must carry out all 33 preliminary requirements. Of course, budget adjustments are of primary importance, the more so that that the IMF-coordinated budget deficit margin (Hr 2.28 billion toward the end of July) has been practically reached. Here the most dramatic, albeit somewhat paradoxical, events have unfolded.

The President of Ukraine who in his fourth year in office finally assumed full responsibility for the domestic economic situation, decided to solemnly share his views with the new Parliament. As befits a standard thriller scenario, he arrived in the hottest spot. Kherson oblast, known for the worst economic indices, and the village of Tavrychanka. The Chief Executive visited it and warned the residents that the country was in for "the worst financial crisis ever," unless the Verkhovna Rada adopted the adjusted budget and approved his latest economic edicts.

The populace was supposed to rise as one in defense of the Guarantor of the Constitution and wave a fist at Parliament. Nothing happened and Parliament is eager to have the adjusted budget bill. The Speaker said on July 14 that he supported the latest economic edicts and even asked Deputies to postpone their vacation to hear and adopt the budget's final version.

In other words, the President has no scapegoat, not yet. But he continues with sinister predictions, addressing them to the international community, specifically Ukraine's major creditors. He said that "we will not survive this crisis" which is interesting to compare with last year's statement made by US Presidential Special Advisor Richard Morningstar about American security being dependent on stable democracies in Russia, Ukraine, and the other newly independent states.

And without money, say goodbye to both democracy and economic recovery, especially in a Ukraine lacking developed production which the government is struggling to revive only on paper so far. In a word, the Ukrainian and world public must realize that .5-2.7 billion worth of EFF is precisely what this country needs to keep itself in its specific national orbit.