Tagged: Ukraine

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Oligarchs. More a symptom than a cause of Ukraine’s crisis

Oligarchs have captured the Ukrainian state. However, they are more a symptom than the cause of the country’s crisis. That is why successful de-oligarchisation would not bring real progress, but only give rise to a new generation of oligarchs. What is needed instead is a political culture of transparency and accountability.

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The Failed Promise of Deoligarchization in Ukraine

The oligarchic system, which inseparably involves informal ties and corruption between the the top tiers of government and oligarchs, did not disappear after the Revolution of Dignity. It merely evolved slightly to adapt to the new political situation. A closer look at the relationships between the government and big business shows that all post-Maidan statements of Ukraine’s top officials about ‘deoligarchisation’ are pure wishful thinking. The long-established main oligarchic groups started more or less close co-operation with the government elite, which needed their support and was at the same time too weak or lacked the political will to really undermine the oligarchs’ positions.

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іМоRе # 51. An ambiguous start to the year: anti-reforms prevented the manifestation of a decent result

The index for monitoring of reforms (iMoRe) remains low. Assessment of reforms progress for December 19, 2016 – January 8, 2017 is only +0.8 points out of a possible +5.0 points. Progress was observed in public administration reform, public finances and the business environment. Even though these areas have benefitted from a number of progressive legislative actions, the index value is low due to several anti-reforms.

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The NBU Goal and Tasks For 2017: Inflation Targeting Alone Is Not Enough

The first and foremost priority of the National Bank of Ukraine (NBU) is to keep inflation low. This is stated in the law, and in the principles of the monetary policy for 2017-2020 proposed by the NBU Board, and recently approved by the NBU Council. The goal for 2017 is set at 8+-2%. Will the public accept this goal?

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iMoRe # 50. Anniversary Issue, and No Surprise: The Index Is +1

Progress in reforming the banking sector and road infrastructure has positively influenced iMoRe – the index for monitoring of reforms. For December 5 – December 18 iMoRe reached a score of +1.0 out of a possible +5 points. Experts noted the progress in the reforms of the monetary sphere, public administration, public finance and energy sector.

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VoxCheck of the Statements of the ex-Management of PrivatBank

On Monday, 20th of December, 2016, the nationalization of PrivatBank was announced. The representatives of the government and the central bank explained the decision with the bad quality of the credit portfolio, large number of loans to affiliated companies and undercapitalization of the bank. The bank’s former management presented their view of the events, pointing to the unjust actions by the NBU that were selectively aimed at the largest Ukrainian bank. Full text is available in Ukrainian.