On March 4, President Volodymyr Zelenskyy removed the prime minister and a majority of the reform-minded ministers in the government. Their replacements, however, do not have a strong record of reform and civil society and Ukraine’s Western friends worry about the message the reshuffle sends and the direction in which the president wants to take the country. Additionally, following the reshuffle, the yield on short Ukrainian Eurobonds skyrocketed from 3.5 percent a year to 7.75 percent. The Ukrainian hryvnia is now falling, compelling the National Bank of Ukraine to intervene. The international financial market is swiftly closing to Ukraine, as was the case for several years from 2012. The markets were clearly not consoled by the composition of the new Ukrainian government, which remains incomplete and has yet to declare what policies it plans to pursue.
The Atlantic Council’s Eurasia Center team, Ambassador John Herbst, director, Dr. Anders Åslund, senior fellow, Melinda Haring, deputy director, and Adrian Karatnycky, senior fellow, join the panel, with Ambassador Herbst moderating.
Ukraine has moved tentatively toward an open society and market economy since independence. The country has held several democratic elections but largely failed to address state control and corruption in its economy. Since the 2014 Maidan Revolution, Ukraine has undertaken significant economic reform and moved decisively toward a Europe-focused foreign policy.
UkraineAlert Nov 2, 2021
Ukraine’s dangerous Winter Olympic obsession
Ukrainian President Volodymyr Zelenskyy has declared his intention to bring the Winter Olympics to the country, but environmentalists fear the initiative will cause irreparable damage to some of the most valuable mountain ecosystems in Europe.
UkraineAlert Oct 21, 2021
Ukraine’s classical music superstar Oksana Lyniv makes history again
By Peter Dickinson
Ukraine’s superstar classical music conductor Oksana Lyniv made history yet again in October 2021 when she was named as the first ever female musical director of the Teatro Comunale di Bologna in Italy.
UkraineAlert Oct 14, 2021
Ukraine hopes industrial parks can attract international investors
By Oleksii Chernyshov
President Zelenskyy recently signed off on a series of amendments to Ukrainian legislation on industrial parks as part of an initiative to establish a network of 25 flagship industrial parks across the country.
The Eurasia Center’s mission is to enhance transatlantic cooperation in promoting policies that strengthen stability, democratic values, and prosperity in Eurasia, from Eastern Europe in the West to the Caucasus, Russia, and Central Asia in the East.