The $17.5 billion loan approved by the IMF won’t save Ukraine from hopeless poverty; instead, it will inflict a blow on the country’s population already living on the breadline, said the ex-head of the National Bank of Ukraine Sergei Arbuzov.

None of the options proposed by the IMF would improve the economy, said Arbuzov to Izvestia, adding that the biggest mistake made by the government was working with the IMF instead of working with the economy.