VoxUkraine Blog

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Central Banks: What Should Be Their Main Goals

Why are central banks independent from politics, what should be their main goals, why do they involve ever more academic economists? During the last 100 years mission and instruments of central banks have seen a few seminal changes. What challenges, problems and objectives are central banks in the world and among them the National Bank of Ukraine currently facing? How are they evolving in response to the rapidly changing environment? These issues will be discussed at the conference “Transformation of Central Banks’ activities” on May 19-20th in Kyiv.

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De-Oligarchization is Central to the Success of Reforms in Ukraine

De-oligarchization, together with corruption and the rule of law, are 3 areas that are central to the success of the reforms and European integration after the Euromaidan revolution. At the same time, while Western governments, academic experts and journalists frequently advise Ukraine to ‘deal with its oligarchs’ they rarely provide clear-cut policy advice to Ukraine’s political leaders and government how to go about this.

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6 Cons of the 15% “Surcharge” on the Pensions of Working Pensioners

At the time of the acute 2014-2015 fiscal crisis, the Ukrainian government not only raised tax rates but also introduced new taxes. One of these new taxes is the 15% “surcharge” on the pensions of working pensioners. Specifically, if a pensioner earns even a hryvnia in wages, she must forfeit 15% of her pension. That is, irrespective of the earnings amount, the working pensioner had to pay a tax (in addition, if the pension is greater than a certain amount, the pension is subject to income tax). The government contemplates repealing the tax on pensions. This would be the right policy decision as there are many wrongs with such a tax.

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Op-Ed: Health Care Reforms that Have Been Started Must Not End with the Replacement of the Minister

After more than two decades of mismanagement and endemic corruption in the sector, over the last year, we have finally seen relatively consistent attempts to transform the health care system and address its deeply-rooted problems. Nevertheless, the most fundamental changes are yet to be designed, passed into laws, and implemented and this why the immediate appointment of a Minister and a correct choice of candidate is paramount.

Reforming State Enterprises 0

Reforming State Enterprises

In his lecture, Adomas Audickas talks about three models of SOE management and describes the model that he thinks would be best for Ukraine – a centralized holding company which would attract talented managers and minimize political interference. He also stresses the importance of government’s role as a referee rather than as a player.

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How the Ukrainian Crisis Plays out in the Public Media Sector

German political scientist Alexander Wajnberg believes that Ukraine is living in a permanent crisis, which risks to take catastrophic. One of the essential elements of the situation stabilization is existence of objective media. In the Ukrainian reality this role could be played by public television (First National). But its reforming is stalled by political crisis and confrontation of the prosecutor’s office and the Ministry of Internal Affairs. How to break the vicious circle?