14:24 21.09.2017

EBRD fears slow up in reforms in Ukraine after successful issue of eurobonds

2 min read
EBRD fears slow up in reforms in Ukraine after successful issue of eurobonds

Ukrainian authorities could weaken reform effects after the successful placement of eurobonds this week, and he pause could last until the election in 2019, EBRD Managing Director for Eastern Europe and the Caucasus Francis Malige has said, expressing his fears.

He said at the Ukrainian Financial Forum organized by ICU Investment Group in Odesa on Thursday that the issue of eurobonds means that the position for authorities has become more convenient, and the pressure on reforms would weaken.

Malige said that now the winter period is coming, and this period could last until the election if there were no pressure to continue reforms.

He said that the recent decision of independent members of the supervisory board of national joint-stock company Naftogaz Ukrainy to resign was a roll back. He said that the bank jointly with Ukraine is working on solving the problem and hopes to settle the crisis.

He said that the bank's task jointly with the reformers in the government not allow the crisis to break through.

Malige said that three years ago few persons could imagine that the country would manage to see success in reforms, in particular to solve the problem of PrivatBank and remove the difference in the prices of gas or create the ProZorro e-procurement system.

He also backed a new bill on privatization, which was drawn up with participation of international financial institutions (IFIs).

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