DOCSLIB.ORG

The Ukrainian Weekly 1994, No.45

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read 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. President Leonid Kuchma (left) with Canada's Foreign Affairs Minister Andre Oueliet at the opening of the (Continued 00 page 11) special economic conference of the G-7. On the right is Foreign Minister Andrei Kozy rev of Russia. Kuchma vows to press radical reform Reverberations of "60 Minutes" broadcast as he completes first 100 days in office Community representatives meet with CBS by Marta Kolomayets do something totally different. He looks by Khristina Lew said "60 Minutes" Executive Producer Kyyiv Press Bureau you in the eye, but thinks something else. Don Hewitt, "it is our obligation to cor– NEW YORK - An ad hoc delega– This was one of the most painful lessons rect it, not for them fthe Ukrainians) but tion of Ukrainian Americans, armed KYYiv - There is no alternative to Fve learned. for our viewers. And 1 keep using the the radical reform program presented to with a statement from Rabbi Yaakov word if," he emphasized. "1 can't say there have been some Bleich decrying CBS's unbalanced the Parliament if life in Ukraine is to extraordinary pluses, but 1 consider it The one-hour, 40-minute meeting, portrayal of Ukraine, received no com– improve for its citizens, President Leonid very positive that the Parliament has sup- organized by Mr. Hewitt at the insistence mitment from CBS to publicly rectify Kuchma told journalists on Monday, ported the president's program. Both the of Ukrainian Human Rights Committee the inflammatory "60 Minutes" seg– October 31, during a news conference left and right forces in the Supreme President Ulana Mazurkevich, pitted the ment– on anti-Semitism in western marking his first 100 days in office. Council understand that we can no longer executive producer, CBS vice-President Ukraine during an October 3.1 meeting "1 will be uncompromising on two live this way, we have to go toward radi– Joseph Peyronnin, "60 Minutes" corre– held here at CBS headquarters. issues with the Parliament: 1 will not cal reforms," he said. spondent Morley Safer, and segment pro– instead, according to meeting partici– back down from the radical reform pro- Once again, President Kuchma under- ducer Jeffrey Fager against Messrs. pant Askold Lozynskyj, president of the gram, and 1 wiil insist on strong execu– scored his determination to take responsi– Lozynskyj and Olesnycky, Mrs. Ukrainian Congress Committee of tive powers," said Mr. Kuchma, looking bility for the course and results of radical Mazurkevich, Ukrainian Catholic Bishop refreshed and optimistic just two days reforms, warning Ukrainian citizens that America, CBS pledged to revisit the Basil Losterv-Rutgers University Prof. after returning from Canada - his first such a course will be neither easy nor issue, convene its own meeting of Taras Hunczak, and Profs. Borys state visit abroad. painless. researchers and experts, convene a meet– Rabiner and David Meltzer of the And, in order to help implement his Already, Ukraine's citizens have felt ing with Rabbi Bleich when he arrives in Association of Jewish Emigres from programs, Mr. Kuchma has named three the pinch of this radical program as the U.S. and then make a decision. Ukraine and Eastern Europe. new premiers to his government, includ– prices for transportation in Kyyiv "it was a draw," said Ukrainian At CBS's insistence, three additional ing viktor Pynzenyk, Yevhen Marchuk increased 10 times as of November 1, National Association vice-President members of the delegation — corre– and Petro Sabluk (see story, page 2). with the price of a bus ride going from Nestor Olesnycky, another member of spondents from The Ukrainian Weekly, Stating that the preparatory stage of 100 to 1,000 kbv and prices for such ser– the 10-person Ukrainian delegation, of The National Tribune and "Kontakt" his presidency, a time of study and anaiy– vices as water and gas in state-owned the meeting. "1 don't think we scored Ukrainian Television — were asked to sis, had ended, Mr. Kuchma, 56, reflect– apartments increasing from 50,000 to any knock-out points. CBS promised to leave. "This is not a press conference," ed on both the pluses and minuses of his 450,000 kbv per month. look at the material and information we clamored Mr. Safer. Mr. Peyronnin three months in power. The price of bread also was scheduled provided them and get back to us. if they assured meeting participants that while "Many of the people who are in power to rise from 3,000 to 15,000 kbv per loaf agree with our version, they will retract." now, and who were in power under the "if we find we have made any error," (Continued on page 20) old system, today declare one thing but (Continued on page 2) 2 THE UKRAINIAN WEEKLY SUNDAY, NOVEMBER 6,1994 No. 45 Kuchma appoints three premiers, NEWSBR1EFS reflecting domestic policy priorities 1MF approves S3 71 million loan set up last year to help former communist by Marta Kolomayets from democrats, who consider Mr. countries. Oleh Havrylyshyn, 1MF alter– Kyyiv Press Bureau Pynzenyk not only a talented reformer, WASHINGTON - The international nate executive director, who represents but one of their own, from the western Monetary Fund approved a S371 million Ukraine at the fund, welcomed the deci– KYYiv - President Leonid Kuchma Ukrainian city of Lviv. Mr. Pynzenyk loan for Ukraine on October 26 to help sions: "We are very happy to see there has appointed three new premiers to the has twice been elected a deputy from that the country in its transition from commu– was very full support from all members Ukrainian government, in an effort to region. nism to capitalism. "The Ukrainian gov– of the board." He added that Ukraine ernment has begun to implement a coura– tackle three of the country's most press– "With the appointment of Pynzenyk, intends to reach agreement with the 1MF geous program to address the country's ing problems: the withering economy, President Kuchma has shown that he will on a larger stand-by loan by no later than economic problems," said the 1MF. "This the wave of crime and corruption, and not bow to the left majority in early next year. (Reuters) is the first stage of a major effort ... the imminent collapse of the agricultural Parliament," said vyacheslav Chornovil, which will take time to complete and Zaporizhzhia reactor offline sector in this land once known as the the leader of Rukh, where Mr. Pynzenyk require persistence in implementation. "breadbasket of Europe." started his political career. ZAPOR1ZHZH1A - Reactor No. 1 of The loan will be extended under the On Monday, October 31, Mr. Kuchma "1 would even go as far as saying that iMF's Systemic Transformation Facility, (Continued on page 4) named two first vice-premiers, viktor Mr. Pynzenyk will assume the role of Pynzenyk and Yevhen Marchuk, who acting prime minister," said Deputy will be responsible for economic reforms Yevhen Zherebetsky, a member of the and fighting organized crime and corrup– parliamentary faction Reform, which As deadline passes, Crimean deputies tion, respectively. Petro Sabluk was Mr. Pynzenyk helped organize in the named vice-premier in charge of the new Parliament. agro-industrial complex. discuss constitutional conflict with Ukraine This may well be the case, for many "Naming viktor Pynzenyk to the post political observers note that Prime KYYiv - As The Weekly was going Constitution be brought into line with of first vice-premier in charge of eco– Minister vitaliy Masol's days may be to press, Crimean Parliament Speaker the Ukrainian Constitution, which is still nomic reform is a logical natural step for numbered in the Kuchma government. Sergey Tsekov suggested several ways to being formulated; that a committee of the Ukrainian president," noted political Although Mr. Kuchma had signed a settle the legal conflict between Ukraine Ukrainian and Crimean parliamentarians analyst Artur Bilous, adding that Mr.
Load more

Recommended publications
  • Bibliography
    BIbLIOGRAPHY 2016 AFI Annual Report. (2017). Alliance for Financial Inclusion. Retrieved July 31, 2017, from https://www.afi-global.org/sites/default/files/publica- tions/2017-05/2016%20AFI%20Annual%20Report.pdf. A Law of the Abolition of Currencies in a Small Denomination and Rounding off a Fraction, July 15, 1953, Law No.60 (Shōgakutsūka no seiri oyobi shiharaikin no hasūkeisan ni kansuru hōritsu). Retrieved April 11, 2017, from https:// web.archive.org/web/20020628033108/http://www.shugiin.go.jp/itdb_ housei.nsf/html/houritsu/01619530715060.htm. About PBC. (2018, August 21). The People’s Bank of China. Retrieved August 21, 2018, from http://www.pbc.gov.cn/english/130712/index.html. About Us. Alliance for Financial Inclusion. Retrieved July 31, 2017, from https:// www.afi-global.org/about-us. AFI Official Members. Alliance for Financial Inclusion. Retrieved July 31, 2017, from https://www.afi-global.org/sites/default/files/inlinefiles/AFI%20 Official%20Members_8%20February%202018.pdf. Ahamed, L. (2009). Lords of Finance: The Bankers Who Broke the World. London: Penguin Books. Alderman, L., Kanter, J., Yardley, J., Ewing, J., Kitsantonis, N., Daley, S., Russell, K., Higgins, A., & Eavis, P. (2016, June 17). Explaining Greece’s Debt Crisis. The New York Times. Retrieved January 28, 2018, from https://www.nytimes. com/interactive/2016/business/international/greece-debt-crisis-euro.html. Alesina, A. (1988). Macroeconomics and Politics (S. Fischer, Ed.). NBER Macroeconomics Annual, 3, 13–62. Alesina, A. (1989). Politics and Business Cycles in Industrial Democracies. Economic Policy, 4(8), 57–98. © The Author(s) 2018 355 R. Ray Chaudhuri, Central Bank Independence, Regulations, and Monetary Policy, https://doi.org/10.1057/978-1-137-58912-5 356 BIBLIOGRAPHY Alesina, A., & Grilli, V.
    [Show full text]
  • Ukrainian Folk Singing in NYC
    Fall–Winter 2010 Volume 36: 3–4 The Journal of New York Folklore Ukrainian Folk Singing in NYC Hindu Home Altars Mexican Immigrant Creative Writers National Heritage Award Winner Remembering Bess Lomax Hawes From the Director Since the found- a student-only conference. There are prec- Mano,” readers will enjoy fresh prose pieces ing of the New York edents for this format, also. In commenting and poetry in English and Spanish from a Folklore Society, the on the 1950 meeting, then-president Moritz recently published anthology, produced by organization has pro- Jagendorf wrote, “Another ‘new’ at the Mexican cultural nonprofit Mano a Mano, vided two consistent Rochester meeting was the suggestion to the New York Writers Coalition, and a group benefits of member- have an annual contest among students of of New York’s newest Spanish-language ship: receipt of a New York State colleges and universities for writers. Musician, discophile, and Irish- published journal— the best paper on New York State folklore. American music researcher Ted McGraw since 2000, Voices— The winner will receive fifty dollars, and his presents a preliminary report and asks Voices and at least one annual meeting. or her paper will be read before the mem- readers for assistance in documenting the In the early years, the annual meeting bers.” (It is unclear whether this suggestion fascinating history of twentieth-century took place jointly with the annual gathering was implemented!) button accordions made by Italian craftsmen of the New York Historical Association, The 2010 meeting was held at New York and sold to the Irish market in New York.
    [Show full text]
  • Celebrating Fascism and War Criminality in Edmonton. The
    CELEBRATING FASCISM AND WAR CRIMINALITY IN EDMONTON The Political Myth and Cult of Stepan Bandera in Multicultural Canada Grzegorz Rossoliński-Liebe (Berlin) The author is grateful to John-Paul Introduction Himka for allowing him to read his un- published manuscripts, to Per Anders Canadian history, like Canadian society, is heterogeneous and complex. The process of Rudling for his critical and constructive comments and to Michał Młynarz and coping with such a history requires not only a sense of transnational or global historical Sarah Linden Pasay for language knowledge, but also the ability to handle critically the different pasts of the people who im- corrections. migrated to Canada. One of the most problematic components of Canadian’s heterogeneous history is the political myth of Stepan Bandera, which emerged in Canada after Bandera’s 1 For "thick description", cf. Geertz, assassination on October 15, 1959. The Bandera myth stimulated parts of the Ukrainian Clifford: Thick Description: Toward an diaspora in Canada and other countries to pay homage to a fascist, anti-Semitic and radical Interpretive Theory of Culture. In: nationalist politician, whose supporters and adherents were not only willing to collaborate Geertz, C.: The Interpretation of Cultu- with the Nazis but also murdered Jews, Poles, Russians, non-nationalist Ukrainians and res: Selected Essays. New York: Basic other people in Ukraine whom they perceived as enemies of the sacred concept of the na- Books 1973, pp. 3-30. For the critique of ideology, see Grabner-Haider, An- tion. ton: Ideologie und Religion. Interaktion In this article, I concentrate on the political myth and cult of Stepan Bandera in Edmon- und Sinnsysteme in der modernen ton, exploring how certain elements of Ukrainian immigrant groups tried to combine the Gesellschaft.
    [Show full text]
  • Constructions and Instrumentalization of the Past: a Comparative Study on Memory Management in the Region
    CBEES State of the Region Report 2020 Constructions and Instrumentalization of the Past A Comparative Study on Memory Management in the Region Published with support from the Foundation for Baltic and East European Studies (Östersjstiftelsen) Constructions and Instrumentalization of the Past A Comparative Study on Memory Management in the Region December 2020 Publisher Centre for Baltic and East European Studies, CBEES, Sdertrn University © CBEES, Sdertrn University and the authors Editor Ninna Mrner Editorial Board Joakim Ekman, Florence Frhlig, David Gaunt, Tora Lane, Per Anders Rudling, Irina Sandomirskaja Layout Lena Fredriksson, Serpentin Media Proofreading Bridget Schaefer, Semantix Print Elanders Sverige AB ISBN 978-91-85139-12-5 4 Contents 7 Preface. A New Annual CBEES Publication, Ulla Manns and Joakim Ekman 9 Introduction. Constructions and Instrumentalization of the Past, David Gaunt and Tora Lane 15 Background. Eastern and Central Europe as a Region of Memory. Some Common Traits, Barbara Trnquist-Plewa ESSAYS 23 Victimhood and Building Identities on Past Suffering, Florence Frhlig 29 Image, Afterimage, Counter-Image: Communist Visuality without Communism, Irina Sandomirskaja 37 The Toxic Memory Politics in the Post-Soviet Caucasus, Thomas de Waal 45 The Flag Revolution. Understanding the Political Symbols of Belarus, Andrej Kotljarchuk 55 Institutes of Trauma Re-production in a Borderland: Poland, Ukraine, and Lithuania, Per Anders Rudling COUNTRY BY COUNTRY 69 Germany. The Multi-Level Governance of Memory as a Policy Field, Jenny Wstenberg 80 Lithuania. Fractured and Contested Memory Regimes, Violeta Davoliūtė 87 Belarus. The Politics of Memory in Belarus: Narratives and Institutions, Aliaksei Lastouski 94 Ukraine. Memory Nodes Loaded with Potential to Mobilize People, Yuliya Yurchuk 106 Czech Republic.
    [Show full text]
  • Developing the Rule of Law in Ukraine: Achievements, Impacts, and Challenges
    DEVELOPING THE RULE OF LAW IN UKRAINE: ACHIEVEMENTS, IMPACTS, AND CHALLENGES A Retrospective of Lessons Learned for the Donor Community Ten Years after Independence Prepared for the E&E Bureau USAID by Mark Dietrich Richard Blue Management Systems International Draft June 2002 TABLE OF CONTENTS EXECUTIVE SUMMARY.........................................................................................................ii I. INTRODUCTION ..............................................................................................................1 A. Goals, Scope, and Methodology ................................................................................1 B. Historical and Political Context .................................................................................2 II. THE LEGISLATIVE FRAMEWORK ................................................................................5 A. Current Status............................................................................................................5 B. Donor Interventions and Impact.................................................................................9 III. JUDICIAL REFORM .......................................................................................................12 A. Current Status..........................................................................................................12 B. Donor Interventions and Impact...............................................................................21 IV. ACCESS TO JUSTICE.....................................................................................................26
    [Show 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.
    [Show full text]
  • JUNE 2 - 3, 2018 CALGARY UKRAINIAN FESTIVAL Programme Guide
    JUNE 2 - 3, 2018 CALGARY UKRAINIAN FESTIVAL programme guide CALGARYUKRAINIANFESTIVAL.CA CALGARY UKRAINIAN FESTIVAL 2018! On behalf of the Board of Directors of the Calgary Ukrainian Festival Foundation I would like to welcome you to the NINTH Annual Calgary Ukrainian Festival! Only one year away from a full decade of Festival activities! The momentum continues this year with an entirely new stage show format with even more performers than last. Have a look around at our collection of Ukrainian vendors from across the country. They bring everything from the latest Ukrainian European fashion trends to collectible “hard to find” Ukrainian artistry. Keep looking around the pavilion and take note of our new bar modeled after an 18th century Ukrainian house with thatch roofing. Imagine what it was like to raise a family in such a simple structure! Sitting at “Baba’s” kitchen table is a treat like nothing else. Enjoying the simplicity and tasteful helpings of traditional hand-made perogies and cabbage rolls. Nothing “store bought” on our Festival food plates. Finally, our Festival After-Hours event returns Saturday evening at 9:00pm. Open to all. Our performers will be out of their stage costumes and back into street clothes. Come spend the evening with those you saw on stage and meet a new friend. This year our live Ukrainian Zabava Band from Edmonton, Steppe, will play everything from the fastest polkas, to the coziest waltz. But don’t leave before 10:30pm because around that time you will witness the infamous Canadian Ukrainian tradition of the “Kolomyka”. The chance for ALL to display the best they have in Ukrainian dance solos.
    [Show full text]
  • The Monetary Legacy of the Soviet Union / Patrick Conway
    ESSAYS IN INTERNATIONAL FINANCE ESSAYS IN INTERNATIONAL FINANCE are published by the International Finance Section of the Department of Economics of Princeton University. The Section sponsors this series of publications, but the opinions expressed are those of the authors. The Section welcomes the submission of manuscripts for publication in this and its other series. Please see the Notice to Contributors at the back of this Essay. The author of this Essay, Patrick Conway, is Professor of Economics at the University of North Carolina at Chapel Hill. He has written extensively on the subject of structural adjustment in developing and transitional economies, beginning with Economic Shocks and Structural Adjustment: Turkey after 1973 (1987) and continuing, most recently, with “An Atheoretic Evaluation of Success in Structural Adjustment” (1994a). Professor Conway has considerable experience with the economies of the former Soviet Union and has made research visits to each of the republics discussed in this Essay. PETER B. KENEN, Director International Finance Section INTERNATIONAL FINANCE SECTION EDITORIAL STAFF Peter B. Kenen, Director Margaret B. Riccardi, Editor Lillian Spais, Editorial Aide Lalitha H. Chandra, Subscriptions and Orders Library of Congress Cataloging-in-Publication Data Conway, Patrick J. Currency proliferation: the monetary legacy of the Soviet Union / Patrick Conway. p. cm. — (Essays in international finance, ISSN 0071-142X ; no. 197) Includes bibliographical references. ISBN 0-88165-104-4 (pbk.) : $8.00 1. Currency question—Former Soviet republics. 2. Monetary policy—Former Soviet republics. 3. Finance—Former Soviet republics. I. Title. II. Series. HG136.P7 no. 197 [HG1075] 332′.042 s—dc20 [332.4′947] 95-18713 CIP Copyright © 1995 by International Finance Section, Department of Economics, Princeton University.
    [Show full text]
  • The Ukrainian Weekly, 2019
    INSIDE: UWC leadership meets with Zelenskyy – page 3 Lomachenko adds WBC title to his collection – page 15 Ukrainian Independence Day celebrations – pages 16-17 THEPublished U by theKRAINIAN Ukrainian National Association, Inc., celebrating W its 125th anniversaryEEKLY Vol. LXXXVII No. 36 THE UKRAINIAN WEEKLY SUNDAY, SEPTEMBER 8, 2019 $2.00 Trump considers suspension of military aid Zelenskyy team takes charge to Ukraine, angering U.S. lawmakers as new Rada begins its work RFE/RL delay. Unless, of course, he’s yet again act- ing at the behest of his favorite Russian dic- U.S. President Donald Trump is consid- tator & good friend, Putin,” the Illinois sena- ering blocking $250 million in military aid tor tweeted. to Ukraine, Western media reported, rais- Rep. Adam Kinzinger (R-Ill.), a member of ing objections from lawmakers of both U.S. the House Foreign Affairs Committee, tweet- political parties. ed that “This is unacceptable. It was wrong Citing senior administration officials, when [President Barack] Obama failed to Politico and Reuters reported that Mr. stand up to [Russian President Vladimir] Trump had ordered a reassessment of the Putin in Ukraine, and it’s wrong now.” aid program that Kyiv uses to battle Russia- The administration officials said chances backed separatists in eastern Ukraine. are that the money will be allocated as The review is to “ensure the money is usual but that the determination will not be being used in the best interest of the United made until the review is completed and Mr. States,” Politico said on August 28, and Trump makes a final decision.
    [Show full text]
  • Oleksandr DZYUBLYUK NBU's MONEY-AND-CREDIT
    JOURNAL 279 O F E U R O P E A N E C O N O M Y Vol. 6 (№ 3). September 2007 Publication of Ternopil National Economic Universit y Financial and Banking Services Market Oleksandr DZYUBLYUK NBU’S MONEY-AND-CREDIT MECHANISM OF REGULATORY INFLUENCE ON THE ECONOMIC DEVELOPMENT DYNAMICS Abstract The paper examines the peculiarities of money-and-credit mechanism of the central bank’s regulatory influence upon the development of economic proc- esses. The author analyzes the inconsistencies between separate strategic goals of monetary regulation and determines the need for their prioritization in view of the challenges of economic reformation that evoke at different stages of market transformation. The author considers the strategy of money-and-credit regulation of the National Bank of Ukraine (NBU) that sets out the direction for the respective measures aimed at sustaining the stability of the national cur- rency and stimulating the economic growth. Key words: Monetary policy, monetization of economy, inflation, strategy of money- and-credit regulation, money supply, monetary base, reserve requirements, in- terest rate, refinancing, state budget deficit, national currency, money-market. JEL : E51. © Oleksandr Dzyublyuk, 2007. Dzyublyuk Oleksandr, Doctor of Economic Sciences, Professor, Head of Department of Banking Business, Ternopil National Economic University, Ukraine. 280 Oleksandr Dzyublyuk NBU’s Money-and-Credit Mechanism of Regulatory Influence on the Economic Development Dynamics Introduction Under the conditions of developed market relations, monetary policy is one of the most significant levers of the state’s influence upon economic proc- esses for the purpose of ensuring financial stability and stimulating industrial growth.
    [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]
  • Downloaded from Brill.Com09/28/2021 07:45:28PM Via Free Access 2 Afanasyeva and Kammel
    International Banking and Securities Law 2.1 (2017) 1–81 brill.com/brp Ukrainian Banking Regulation: Its Challenges and Transition towards European Standards Olga Afanasyeva, PhD Ukrainian Venture Capital and Private Equity Association (UVCA) [email protected] Armin J. Kammel Lauder Business School; California Lutheran University [email protected] Abstract For the last years, Ukraine and particulalry its financial sector were seeking to gradu- ally apply and comply with EU standards. Latest with the signing of the EU-Ukraine Association Agreement in 2014 the transition towards EU standards has a formal basis. Since then, Ukraine – with strong support from the EU – is in the process of imple- menting legislative and regulatory measures in order to comply with this Agreement. Against this background, this contribution wants to shed some light into Ukraine’s efforts as well as to explain some of the complexities of this process by providing an in-depth background of the current Ukrainian banking regulation, its economics and the challenges of complying with new EU standards. Keywords Ukraine – banking regulation – EU-Ukraine Association Agreement – banking system – EU financial regulation – implementation of EU standards 1 The Transition of Ukrainian Banking Regulation The recent period of Ukrainian history, starting from its declaration of inde- pendence and culminating in the signing of the EU-Ukraine Association © Olga Afanasyeva and Armin J. Kammel, 2018 | doi 10.1163/24056936-12340005Downloaded from Brill.com09/28/2021 07:45:28PM via free access 2 Afanasyeva and Kammel Agreement1 in 2014 (which entered into force on 1 September 2017), has been characterized by an increased emphasis on the efficient management of Ukrainian banks.
    [Show full text]