Fiscal and Economic Reform in Ukraine

Yuriy Kolobov

On June 21, the Atlantic Council’s Patriciu Eurasia Center and Global Business and Economics program, and the Carnegie Endowment for International Peace Ukraine Program hosted an off-the-record conversation with the Finance Minister of Ukraine Yuriy Kolobov. Thomas Carothers, vice president for studies at the Carnegie Endowment for International Peace, moderated the discussion.

The discussion focused on fiscal reform in Ukraine and cooperation with the International Monetary Fund (IMF). The 2008 global financial crisis of dealt Ukraine a particularly staggering blow. After approving a $15.6 billion loan to Ukraine in July 2010, the IMF subsequently suspended funds when the Ukrainian government failed to implement key policy changes ahead of the general elections. The loan ends this year.

Minister Kolobov was appointed minister of finance in February 2012. His previous positions include first deputy governor of the National Bank of Ukraine (NBU), first deputy chairman of the State Export-Import Bank of Ukraine Joint Stock Company, and director of the treasury of the State Savings Bank of Ukraine.

Thomas Carothers is the vice president for studies at the Carnegie Endowment for International Peace. He is the founder and director of the Democracy and Rule of Law Program, which analyzes the state of democracy in the world and the efforts by the United States and other countries to promote democracy. He also oversees the Carnegie Endowment’s European activities, including Carnegie Europe in Brussels.