DOCSLIB.ORG

Reforms in Ukraine After Revolution of Dignity

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Reforms in Ukraine After Revolution of Dignity REFORMS IN UKRAINE AFTER REVOLUTION OF DIGNITY What was done, why not more and what to do next This publicaon was produced with financial Responsibility for the informaon and views set out assistance from the EBRD-Ukraine Stabilisaon and in this publicaon lies enrely with the authors. The Sustainable Growth Mul-Donor Account, the EBRD makes no representaon or warranty, express donors of which are Denmark, Finland, France, or implied, as to the accuracy or completeness of the Germany, Italy, Japan, the Netherlands, Norway, informaon set forth in the publicaon. The EBRD Poland, Sweden, Switzerland, the United Kingdom, has not independently verified any of the informaon the United States of America and the European contained in the publicaon and the EBRD accepts Union, the largest donor. The views expressed herein no liability whatsoever for any of the informaon can in no way be taken to reflect the official opinion contained in the publicaon or for any misstatement of the EBRD or any donor of the account. or omission therein. The publicaon remains the property of the EBRD. REFORMS IN UKRAINE AFTER REVOLUTION OF DIGNITY What was done, why not more and what to do next Editors Ivan Miklos Pavlo Kukhta Contents Foreword 4 Introducon What was done, why not more and what to do next: Ukrainian reforms aer the Revoluon of Dignity 7 Chapter 1 Polical economy of reforms: polical system, governance and corrupon 10 Chapter 2 Macroeconomic policies 35 Chapter 3 Rule of law 48 Chapter 4 Energy policy 75 Chapter 5 Business environment 87 Chapter 6 Land reform 101 Chapter 7 Privasaon and SOE reform 112 Chapter 8 Healthcare reform 132 Chapter 9 Ukraine and the European Union 144 Annex 1 Report on reforms in 2016-17 162 Annex 2 The role of the government and MPs in reform implementaon in Ukraine 167 About SAGSUR (Strategic Advisory Group for Support of Ukrainian Reforms) 173 Glossary of terms 174 Foreword Foreword | 4 Foreword Maeo Patrone and Peter M. Wagner When in mid-2014 the revoluonary dust started to At the same me, the Reforms Delivery Office (RDO), sele, Ukraine's new leadership was confronted with the architecture's second component, was entrusted a host of unprecedented challenges. With the with coordinang, facilitang and monitoring the signature of the EU-Ukraine Associaon Agreement reform process across the administraon and and the Deep and Comprehensive Free Trade Area, ensuring that reform plans turn into outcomes felt by the government made every effort to channel the ordinary Ukrainians. post-Maidan enthusiasm into a wider societal and Complemenng the dynamism and local insight of polical consensus around the direcon of key the RSTs and RDO, as the URA's third component, reforms – to bring the country closer to Europe. the Strategic Advisory Group for Support of Since then, the European Union (EU) and the Ukrainian Reforms (SAGSUR) has been providing European Bank for Reconstrucon and Development high-level advice and guidance to the top polical (EBRD) have been leading supporters of reform in leadership of the country. Drawing on their vast Ukraine. This has included innovave approaches experience in leading successful reform processes in such as the EBRD-driven Naonal Reform Council as neighbouring countries (Poland and Slovakia) as well an early-day plaorm for reform champions from all as in Ukraine, SAGSUR experts have offered branches of government, parliament and society, as invaluable perspecve to Ukrainian decision-makers well as unprecedentedly large EU-supported on the challenges, risks and rewards that such programmes in crucial reform areas such as endeavours entail. SAGSUR's experience teaches us decentralisaon and public administraon reform. countless lessons, many of which are shared by the Recognising that significantly strengthened group's members themselves on the following pages. implementaon capacity was needed to translate the ambious reform agenda into tangible improvements Since 2014, the EU has mobilised around €14 billion, for Ukrainian cizens, the EU and the EBRD came including more than €1 billion in grants. Over the together in mid-2016 to design a mechanism to same period, the EBRD has invested in 147 projects boost Ukraine's reform implementaon capacity. The in Ukraine, totaling over €4 billion. Ukraine Reforms Architecture (URA) was tailored to the country's specific needs as well as its vast As a first insight, the EU-EBRD partnership potenal. This was the first comprehensive aempt demonstrates the power of joining forces in a of its kind in Ukraine to provide a coherent and common effort to support a country's progress on its aligned framework for reform implementaon – one reform path. Drawing on complementary areas of that would increase capacity within the public experse of the EBRD and the EU, we have been administraon to carry out reforms more efficiently, able to provide a beer-targeted and beer-med while engaging stakeholders across the board more support than we would have been had we acted in substanally in the reform process. isolaon. Stepping out of our usual siloes has brought At its core are the Reform Support Teams (RSTs), undeniable benefits to the way we use our limited currently acve in eight ministries and public resources and the progress that can be made when agencies. They have filled crical capacity gaps in we leverage on one another. Ukraine's public administraon and stand on the Our second insight relates to the recognion that any frontline of the reform implementaon drive. They reform support must be tailored to each country's have notably aracted young reform talent from the unique circumstances. Being cognisant of the context country's impressive pool of highly skilled “leaders in in which we operate is a necessary, but not a the making”, harnessing their enthusiasm and sufficient, precondion for the support offered to commitment to improving lives of their fellow bear the desired fruits. The help provided by cizens. Foreword | 5 internaonal reform supporters must not only be a good fit for the needs, constraints and potenal of a partner country, but also align with the wider goals to which its society aspires. In the case of Ukraine we have built on this societal momentum by empowering reformers with genuine commitment to moving the country closer towards its desired desnaon. Finally, reform delivery can seldom be executed by a single branch of the government system. Engagement of different branches in the reform process is vital for a legislave change or a policy to bring about the intended results. To effecvely provide support to reform efforts this means assisng the execuve, legislave and, as required, the judiciary in designing, enacng and enforcing the necessary changes. In the case of SAGSUR, involvement of its members in contribung to the Verkhovna Rada's legislave work has proven to be instrumental in building and maintaining the consensus needed for the adopon of several ground-breaking pieces of legislaon. Our innovave and unique experiment in Ukraine and its wide recognion has strengthened our belief that by partnering up to provide tailored and comprehensive assistance in support of reform- minded leaders, internaonal development stakeholders can make a tangible contribuon to boosng the chances of reform success. As Ukraine takes the next steps on its reform journey, we hope that the many lessons accumulated over the two and a half years of SAGSUR's engagement, and shared in this publicaon, will be a useful resource for all those striving to create a prosperous future for all Ukrainians. Maeo Patrone, Managing Director Eastern Europe and the Caucasus, European Bank for Reconstrucon and Development (EBRD) Peter M. Wagner, Head of the Support Group for Ukraine, European Commission May 2019 Introducon Introducon | 7 What was done, why not more and what to do next: Ukrainian reforms aer the Revoluon of Dignity Ivan Miklos Five years have passed since the Revoluon of ones. A very important contribung factor to this Dignity (also commonly referred to as Euromaidan), a negave narrave is the fact that Ukraine connues watershed moment in Ukraine's history that took to grapple with myriad problems. The transformaon place at the turn of 2013 and 2014. A hundred process of the country's system from oligarchic, ordinary Ukrainians died in the Maidan square, just corrupt and dysfunconal to one operang on the because they wanted to live in a normal society. They principles of a funconing market economy is ridden protested against the corrupt Yanukovych regime with obstacles and remains far from completed. that was robbing the country not only of its resources Ukraine does not currently occupy the top spot on but above all the hope for a beer future. the global media radar, but when the global news I first came to Ukraine just a few weeks aer the does zoom in on the country, it is mostly concerned Revoluon of Dignity, and in early 2015 I started to with the connuing bale in the Russian-occupied work as an adviser to the Minister of Finance Natalie territories in eastern Ukraine, conflict stand-offs like Jaresko and the Minister of Economy and Trade the most recent one in the Azov sea, or yet another Aivaras Abromavičius. In 2016, I became chief corrupon scandal. War, corrupon, oligarchs and economic adviser to the new Prime Minister scandals. For many media outlets only bad news is Volodymyr Groysman. Together with Leszek news. This is the reality, and Ukraine has not done Balcerowicz we were asked by President Petro enough to communicate the posive results of Poroshenko and Prime Minister Groysman to create reforms to audiences within and outside its borders. and lead a small group of foreign and Ukrainian This is feeding into the prevailing negave image of experts (the Strategic Advisory Group for Support of Ukraine in general and Ukrainian reforms in Ukrainian Reforms – SAGSUR).
Load more

Recommended publications
  • REQUIEM for DONBAS Three Essays on the Costs of War in Ukraine
    JOHANNES KEPLER UNIVERSITY LINZ Altenberger Str. 69 4040 Linz, Austria www.jku.at, DVR 0093696 REQUIEM FOR DONBAS Three Essays on the Costs of War in Ukraine By Artem Kochnev A Doctoral Thesis submitted at Department of Economics to obtain the academic degree of Doctor of Philosophy in the Doctoral Program “PhD Program in Economics” Supervisor and First Examiner Second Examiner em. Univ-Prof. Dr. Michael Landesmann Dr. habil. rer. soc. oec. Robert Stehrer May 2020 Abstract The thesis investigates short- and long-term effects of war on the economy of Ukraine. Specifically, it discusses the impact of separatists’ control and subsequent adverse trade policies on the real economy, responses of stock market investors to battle events, and the effect of conflict intensity on reform progress and institutional change in Ukraine. The thesis finds that the impact of war on the economy is most pronounced on the real economy of the war-torn regions. Whereas separatists’ control caused a decline in economic activity by at least 38%, the thesis does not find evidence supporting that the impact of conflict intensity on asset prices and institutional change in Ukraine was linear in parameters. The thesis explains the lack of the linear relationship between asset price move- ments and conflict intensity by investors’ inattention caused by information overload during the early stages of the conflict. Regarding the possible relationship between con- flict and institutional change, the thesis argues that it was electoral competition, not the conflict dynamics, that had an impact on the decision-making process of the policymak- ers in Ukraine.
    [Show full text]
  • Naftogaz of Ukraine 2014 Annual Report
    NAFTOGAZ OF UKRAINE 2014 ANNUAL REPORT New Ukraine Europe New rules Market Transparency Naftogaz Reform Europe New Ukraine Europe New rules Naftogaz Market Europe New UkraineNew Transparency Reform Ukraine Naftogaz New rules Europe Naftogaz New Ukraine Market Naftogaz Europe New Ukraine Reform Transparency Naftogaz EuropeReform Europe Naftogaz New Ukraine New rules Transparency New rules Transparency New rules Europe Transparency New Ukraine Naftogaz New rules Europe Market Reform Reform Naftogaz Market Reform TransparencyNew rules Reform Europe New rules Market Reform Transparency New Ukraine Transparency Transparency Naftogaz New Ukraine Naftogaz New rules Reform NaftogazTransparency Market New rules Reform Europe Reform Naftogaz New rules Europe Naftogaz New Ukraine Transparency Market Transparency New rules Naftogaz Transparency Reform Europe New rules Market New Ukraine New Ukraine Transparency New rules New rules Market Market New Ukraine Europe Transparency Reform Europe New Ukraine New Ukraine Naftogaz Transparency New rules Reform New rules Naftogaz New rules New Ukraine Reform Market Europe New rules ReformNaftogaz Transparency Europe Reform Naftogaz Transparency Reform MarketNaftogaz Reform Naftogaz New rules Naftogaz New Ukraine Market Market Naftogaz Transparency Transparency Reform Europe Transparency New rules New rules New rules Reform New Ukraine Market Transparency New rules Naftogaz Market Europe Changing for the future Ukraine’s gas transmission Entry capacity: EUROPE’S LARGEST GAS MARKETS, 2014, bcm NAFTOGAZ AT A
    [Show full text]
  • Ukraine at the Crossroad in Post-Communist Europe: Policymaking and the Role of Foreign Actors Ryan Barrett [email protected]
    University of Missouri, St. Louis IRL @ UMSL Dissertations UMSL Graduate Works 1-20-2018 Ukraine at the Crossroad in Post-Communist Europe: Policymaking and the Role of Foreign Actors Ryan Barrett [email protected] Follow this and additional works at: https://irl.umsl.edu/dissertation Part of the Comparative Politics Commons, and the International Relations Commons Recommended Citation Barrett, Ryan, "Ukraine at the Crossroad in Post-Communist Europe: Policymaking and the Role of Foreign Actors" (2018). Dissertations. 725. https://irl.umsl.edu/dissertation/725 This Dissertation is brought to you for free and open access by the UMSL Graduate Works at IRL @ UMSL. It has been accepted for inclusion in Dissertations by an authorized administrator of IRL @ UMSL. For more information, please contact [email protected]. Ukraine at the Crossroad in Post-Communist Europe: Policymaking and the Role of Foreign Actors Ryan Barrett M.A. Political Science, The University of Missouri - Saint Louis, 2015 M.A. International Relations, Webster University, 2010 B.A. International Studies, 2006 A Dissertation Submitted to the Graduate School at the The University of Missouri - Saint Louis in partial fulfillment of the requirements for the degree Doctor Philosophy in Political Science May 2018 Advisory Committee: Joyce Mushaben, Ph.D. Jeanne Wilson, PhD. Kenny Thomas, Ph.D. David Kimball, Ph.D. Contents Introduction 1 Chapter I. Policy Formulation 30 Chapter II. Reform Initiatives 84 Chapter III. Economic Policy 122 Chapter IV. Energy Policy 169 Chapter V. Security and Defense Policy 199 Conclusion 237 Appendix 246 Bibliography 248 To the Pat Tillman Foundation for graciously sponsoring this important research Introduction: Ukraine at a Crossroads Ukraine, like many European countries, has experienced a complex history and occupies a unique geographic position that places it in a peculiar situation be- tween its liberal future and communist past; it also finds itself tugged in two opposing directions by the gravitational forces of Russia and the West.
    [Show full text]
  • The Ukrainian Weekly 1994, No.45
    www.ukrweekly.com 1NS1DE: e Washingtonians demonstrate outside CBS offices - page 3. e Reaction to "The Ugly Face of Freedom - pages 6-7. - President Leonid Kuchma concludes visit to Canada - pages 10-13. Published by the Ukrainian National Association inc., a fraternal non-profit association vol. LXII No. 45 THE UKRAINIAN WEEKLY SUNDAY, NOVEMBER 6,1994 75 cents Ukraine wins pledge of Si .2 billion in assistance from G-7 by Christopher Guly Spec tat to The Ukrauva;uan Weekly W?NNiPFC -– A-'though Russia at?empied to lay 'J!';MTI U 'X-1 c! C 7 ач! going Ukraine's way 'ind insist- on 1 :MS a -ч)!е n Ukraine's economic reform, President І.чгжі Kuchma was able to leave Canada with Si.2 bil– i'O'i in nev assistance Ггот the world's largest industri– a'hzed states Highly senior oH'icials representing 14 delegations, including those from Canada, the United States (President Clinton's adviser on the former Soviet Union, Deputy Secretary of State Strobe Talbott, was with the delegation), France, Germany, Great Britain, ltaly, Japan, Russia, Turkmenistan, Ukraine (led by Economy Minister Roman Shpek), as well as the three world financial institutions — the international Monetary Fund, the World Bank and the European Bank for Reconstruction and Development — agreed to the boost for Ukraine. Another S2.2 billion could be forthcoming in the next f"v months as the world's leading economic powers help move Ukraine from a centrally planned economy to a market-driven capitalist system. For G-7 countries, however, the aid package promised Ukraine also appeared to be aimed not at handing Ukraine "charity," as described by Russian Foreign Minister Andiei Kozyrev (a surprise visitor to the confcience), but at entering a partnership with the Kyyiv government on the principle of "help for self- help," as suggested by Canada's Foreign Affairs Minister Andre Oucllcl.
    [Show full text]
  • Cleaning up the Energy Sector
    10 Cleaning Up the Energy Sector Victory is when we won’t buy any Russian gas. —Prime Minister Arseniy Yatsenyuk1 Ukraine’s energy sector is well endowed but extremely mismanaged. Since Ukraine’s independence, it has been the main source of top-level corruption, and its prime beneficiaries have bought the state. This long-lasting policy has undermined national security, caused unsustainable public costs, jeopardized the country’s balance of payments, led to massive waste of energy, and capped domestic production of energy. It is difficult to imagine a worse policy. In- stead, conditions should be created so that Ukraine can develop its substantial energy potential and become self-sufficient in coal and natural gas.2 The solution to these problems is no mystery and it has been elaborated in a large literature for the last two decades. To check corruption energy prices need to be unified. That means raising key prices four to five times, which will eliminate the large energy subsidies and stimulate energy saving, while also stimulating domestic production of all kinds of energy. To make this politi- cally possible, social compensation should be offered to the poorest half of the population. The energy sector suffers from many shortcomings, and most of these need to be dealt with swiftly. Otherwise, new rent-seeking interests will evolve, and soon they will become entrenched and once again impossible to defeat. The new government has a brief window of opportunity to address the most important issues. 1. “Ukraina osvoboditsya ot ‘gazovoi zavisimosti’ ot RF cherez 5 let—Yatsenyuk” [“Yatsenyuk: Ukraine Will Free Itself from Gas Dependence on Russia in 5 Years”], Ekonomichna pravda, Sep- tember 8, 2014.
    [Show full text]
  • Impact of Political Course Shift in Ukraine on Stock Returns
    IMPACT OF POLITICAL COURSE SHIFT IN UKRAINE ON STOCK RETURNS by Oleksii Marchenko A thesis submitted in partial fulfillment of the requirements for the degree of MA in Economic Analysis Kyiv School of Economics 2014 Thesis Supervisor: Professor Tom Coupé Approved by ___________________________________________________ Head of the KSE Defense Committee, Professor Irwin Collier __________________________________________________ __________________________________________________ __________________________________________________ Date ___________________________________ Kyiv School of Economics Abstract IMPACT OF POLITICAL COURSE SHIFT IN UKRAINE ON STOCK RETURNS by Oleksii Marchenko Thesis Supervisor: Professor Tom Coupé Since achieving its independence from the Soviet Union, Ukraine has faced the problem which regional block to integrate in. In this paper an event study is used to investigate investors` expectations about winners and losers from two possible integration options: the Free Trade Agreement as a part of the Association Agreement with the European Union and the Custom Union of Russia, Belarus and Kazakhstan. The impact of these two sudden shifts in the political course on stock returns is analyzed to determine the companies which benefit from each integration decisions. No statistically significant impact on stock returns could be detected. However, our findings suggest a large positive reaction of companies` stock prices to the dismissal of Yanukovych regime regardless of company`s trade orientation and political affiliation.
    [Show full text]
  • Weekly Market Monitor June 7, 2021
    Weekly Market Monitor June 7, 2021 Stock Market Update STOCK MARKET PERFORMANCE Equity UX Index MSCI Emerging Markets Index* 2,000 Kyiv-listed equities ended mixed last week amid a generally dry news flow, as business activity began to slow down in the country due to 1,800 the approach of the summer season. The UX index shed 1.2% to close 1,600 at 1944 points. Lightweight index component DonbasEnergo (DOEN) 1,400 plunged by 27% to UAH 17.10 as market players saw a significant 1,200 delay in the company’s announced modernization of its power unit 1,000 #6 at Slavyansk Thermal Power Plant. CentrEnergo (CEEN) corrected Jan-20 Mar-20 May-20 Jul-20 Oct-20 Dec-20 Feb-21 May-21 by 6.3% to UAH 9.00. Raiffeisen Bank Aval (BAVL) declined by 1.6% * rebased to 44.10 kopecks ahead of the ex-rights date on Jun 8 for a dividend MARKET INDEXES payout of 3.31 kopecks per share. On the upside, UkrNafta (UNAF) Last 1W ch YTD gained 1.9% to UAH 314 and TurboAtom (TATM) added by 1.6% to UX 1944 -1.2% 20.2% UAH 8.20. As we reported earlier, the ex-rights date for UkrNafta’s RTS 1647 2.7% 18.7% UAH 35.62 dividend per share was set on Jun 11. WIG20 2254 0.8% 13.0% MSCI EM 1381 1.5% 7.0% In political developments, Parliament approved a bill that restored S&P 500 4229 0.4% 12.6% criminal responsibility for officials who provide false information on their income declarations.
    [Show full text]
  • The Ukrainian Weekly 1995, No.28
    www.ukrweekly.com INSIDE: • Oleksander Morozs mixed message in Toronto — page 3. • Soyuzivka seasons thunderous opening — page 9. • Ukraine's rowers at pre-Olympic trials — page 10. £ THE UKRAINIAN WEEKLY Published by the Ukrainian National Association Inc., a fraternal non-profit association Vol. LXIII No. 28 THE UKRAINIAN WEEKLY SUNDAY, JULY 9, 1995 $1.25/$2 in Ukraine Crimean Parliament elects new chairman Kuchma names new government by Marta Kolomayets blocked constructive work in the Kyyiv Press Bureau Parliament since early spring. Thirty-one to propel economic reform policy lawmakers voted against him. KYYIV - The Crimean Parliament Mr. Supruniuk is a member of the by Marta Kolomayets merly the minister of economy, who was elected a new chairman on July 6 in a Agrarian-Crimea faction in the 98-mem- Kyyiv Press Bureau appointed deputy prime minister in move that is expected to smooth rela­ ber Parliament, but does not belong to charge of economic issues. Mr. Shpek is tions between the Ukrainian capital and KYYIV - Ukrainian President Leonid considered a less radical reformer than any political party. He told journalists in Kuchma on July 3, appointed a new gov­ the restive autonomous republic. Mr. Pynzenyk. The election of Yevhen Supruniuk as Symferopil on July 6 that the Crimean ernment which is expected to continue a Parliament would work only within the, policy of economic reforms. Some key Speaking with Interfax-Ukraine in the Crimean Parliament's chairman came Bonn on July 4, President Kuchma said just one day after the legislature in framework of Ukrainian legislation. positions remain vacant.
    [Show full text]
  • Ministry of Energy and Coal Industry of Ukraine Is the Main Executive Au- ‣‣Thority Overseeing and Regulating the Power Sector
    Contents FOREWORD 2 SOE PORTFOLIO: SNAPSHOT 4 OBJECTIVES AND STRUCTURE 5 OVERVIEW OF SOE REFORM IN UKRAINE 6 EFFECTIVE REGULATORY FRAMEWORK OF SOEs IN UKRAINE 20 UKRAINIAN ECONOMY 33 OVERVIEW OF PORTFOLIO RESULTS 38 ELECTRICITY 46 OIL & GAS 61 TRANSPORTATION 71 RAILWAYS 73 ROADS 78 AIRPORTS 82 SEA PORTS 88 POSTAL SERVICES 94 MACHINE BUILDING 98 FOOD & AGRICULTURE 113 CHEMICALS 129 COAL MINING 137 BANKING 143 COMPANY PROFILES 153 Agrarian Fund 154 Antonov 155 Centrenergo 156 Coal of Ukraine 157 Electrovazhmash 158 Energoatom 159 Illichivsk Sea Commercial Port 160 Kharkiv State Aviation Enterprise 161 Kharkivoblenergo 162 Khmelnytskoblenergo 163 Kyiv Boryspil 164 Lviv Danylo Halytskyi International Airport 165 Mariupol Sea Commercial Port 166 Mykolayivoblenergo 167 Naftogaz of Ukraine 168 Odesa Commercial Sea Port 169 Odesa Portside Plant 170 Roads of Ukraine 171 State Food and Grain Corporation of Ukraine 172 Sumykhimprom 173 Turboatom 174 Ukrainian Sea Ports Administration 175 Ukrainian State Air Traffic Enterprise 176 Ukrenergo 177 Ukrhydroenergo 178 Ukrposhta 179 Ukrspyrt 180 Ukrzaliznytsia 181 Yuzhny Sea Trade Port 182 Zaporizhyaoblenergo 183 METHODOLOGY NOTE 184 SOE PORTFOLIO 186 ABBREVIATIONS AND DEFINITIONS 191 002 UKRAINE’S TOP-100 STATE-OWNED ENTERPRISES › FULL YEAR 2014 Foreword This is the second report on Ukraine’s 100 largest state-owned enterprises (SOEs) dis- closing their results for the full 2014. Public disclosure of such information is part of the Ukrainian government’s commitment to bring transparency to the SOE sector and communicate the change to the Ukrainian people, local and international investors, and various other stakeholders who want to see Ukraine succeed on the reform path.
    [Show full text]
  • OLEKSANDR POLONYK (SASHA), Associate
    OLEKSANDR POLONYK (SASHA), Associate Oleksandr Polonyk is an associate in the Corporate Department. He focuses on public and private M&A deals, securities offerings and other corporate transactions. Before joining Jenner & Block, Mr. Polonyk practiced law at a top-tier law firm in Ukraine. He represented clients in M&A transactions, IPOs, Eurobond issuances, as well as debt restructurings. He has substantial experience advising clients in the banking, IT, energy, and agriculture sectors. IFLR (Energy and Infrastructure 2016) commended him for his “invaluable can-do attitude.” Mr. Polonyk is fluent in Russian and Ukrainian. Mr. Polonyk’s representative experience in M&A includes the following: OLEKSANDR POLONYK Advised General Dynamics Corporation on its $9.7 billion acquisition of (SASHA) CSRA Inc. Associate Advised Snyder’s-Lance, Inc. on its $6.1 billion sale to Campbell Soup NEW YORK Company Office: 212 891-1684 Email: [email protected] Advised a lead investor on its investment in a developer and operator of greenhouse farms located near major metropolitan areas PRACTICE GROUPS Corporate Advised Altran Technologies SA, an engineering and technology consulting Corporate Finance Mergers & Acquisitions company, on the acquisition of Lohika Systems Inc, a software engineering Securities services firm EDUCATION Advised a Fortune Global 500 company on the acquisition of renewable New York University School of Law, LLM in Corporate Law, 2017 assets in Ukraine Utrecht University School of Law, LLM in Advised on the EUR122 million acquisition
    [Show full text]
  • EAVEX Daily ENG Oct 13.Indd
    Market Monitor October 13, 2011 Market Update STOCK MARKET PERFORMANCE Equity UX Index RTS Index* WIG 20 Index* 2,500 Local stocks again lagged strong gains seen on European bourses on 2,250 Wednesday (Oct 12), as Ukraine continued to receive a dressingdown from EU leaders over the conviction of former PM Yulia Tymoshenko. 2,000 The approval by Slovakia’s parliament of an increase in the EU’s bank 1,750 bailout fund fueled a rise of more than 2% in Frankfurt and Paris, 1,500 while the UX index managed a gain of only 0.5% to 1,327 points. The 1,250 11-Jul 25-Jul 8-Aug 22-Aug 5-Sep 19-Sep 3-Oct day’s best performer was volume leader Motor Sich, which added * rebased 1.5% on turnover of UAH 13mn. Other top liquid names, including CentrEnergo, Alchevsk Steel, Azovstal, and Ukrsotsbank, were up MARKET INDEXES by between 0.5% and 1%. In London, Ferrexpo continued its strong Last 1D ch 1M ch YTD rebound on fading global recession fears, picking up another 7.9% to UX 1326.4 0.7% 12.7% 45.7% RTS 1407.8 3.9% 13.4% 20.5% USD 3.30. WIG20 2316.7 2.4% 3.0% 15.6% MSCI EM 923.2 1.5% 7.0% 19.8% Fixed Income S&P 500 1207.3 1.0% 4.6% 4.0% Ukrainian sovereign Eurobonds saw a broad rebound on Wednesday. Ukrainian midterm Eurobonds added 2.0p.p. 84.0/88.0 UX INTRADAY OCTOBER 12, 2011 (10.70%/9.58%), while longterms rose by 4.0p.p.
    [Show full text]
  • Current Issues and US Policy
    Ukraine: Current Issues and U.S. Policy Vincent L. Morelli Section Research Manager April 27, 2016 Congressional Research Service 7-5700 www.crs.gov RL33460 Ukraine: Current Issues and U.S. Policy Summary In February 2014, the Kremlin-supported government of Ukrainian President Viktor Yanukovych collapsed. The demise of the regime was brought about by bitter protests that had erupted in Kyiv’s Maidan Square in late 2013 over a decision by the government to reject closer relations with the European Union. What followed the turmoil of early 2014 was the emergence of a pro- Western, pro-reform government and an energized public generally anxious to lessen Moscow’s influence, committed to addressing the need for serious reform, and determined to draw closer to Europe and the United States. Despite the current Kyiv government’s commitment to reform, the pro-Western political and economic orientation, and the presence of a vibrant, yet frustrated, civil society dedicated to the implementation of change, Ukraine remains far from achieving the political and economic stability and internal security sought by the supporters of the Maidan. In fact, 2016 has already proven to be a very unsettling time for the government as frustrations have mounted over the slow pace of political reform and economic progress by pro-reformers and the West. These shortcomings initially resulted in the resignations of a popular, reform-minded economy minister and a deputy prosecutor and in warnings from the head of the International Monetary Fund (IMF) and several European nations that Ukraine risked losing continued international financial support if progress was not made.
    [Show full text]