Ukraine has been the subject of IMF programmes under various government since 2004. Ukraine’s current IMF programme bears some resemblance with the Troika program imposed on Greece and is likely to produce a similar economic disaster. The harshness of austerity and accumulation of unsustainable debt coupled with economic policy based on fantasy rather than evidence that ignores the adverse effects of austerity on demand makes abound in both countries. The Ukraine IMF programme suffers as well from giving inadequate attention to democracy, governance and social inclusion of citizens.