Ukraine’s economy has had a turbulent year, with meaningful steps on the path to progress shadowed by shocking turns. In June, Ukraine finally concluded a much-needed International Monetary Fund deal and reached an agreement with the European Union the following month on new financial assistance. Combined with a mostly apt handling of the novel coronavirus pandemic, these are positive developments to global observers—but long-awaited economic reforms have been reversed while new reform efforts have stalled. Throughout the Ukrainian government, reformers have been fired while anti-corruption watchdogs face serious harassment, intimidation, and violence. New Prime Minister Denys Shmyhal drew praise for a recent decision to end the domestic monopoly supply of gas, but warning lights are going off for the country’s overall economic situation. Can Ukraine afford prolonged reform stagnation? What is the real economic forecast for Ukraine in this turbulent year of 2020?

Timothy Ash, senior analyst with Bluebay Asset Management; Alexander Danyliuk, former minister of finance of Ukraine and former secretary of the National Defense and Security Council of Ukraine, Tymofiy Mylovanov, former minister of economic development, trade, and agriculture of Ukraine; and Olena Bilan, chief economist at Dragon Capital, join to discuss Ukraine’s economic turbulence and prospect for progress. Dr. Anders Åslund, senior fellow at the Atlantic Council’s Eurasia Center, moderates.

Issue spotlight
Related experts

The Eurasia Center’s mission is to enhance transatlantic cooperation in promoting stability, democratic values and prosperity in Eurasia, from Eastern Europe and Turkey in the West to the Caucasus, Russia and Central Asia in the East.