Ukraine - Dealing With The Financial Crisis
Presentation by Dr. Edilberto Segura, Partner and Chief Economist
SigmaBleyzer/The Bleyzer Foundation, Kyiv, Ukraine
Power-point Presentation, 28 Slides with Detailed Color Charts
Held at the Kennan Institute,
U.S.-Ukraine Business Council (USUBC) Meeting
Kennan Institute, Washington, D.C. Tuesday, April 7, 2009
1. UKRAINE NOT LIKELY TO DEFAULT ON IT SOVEREIGN OBLIGATIONS (see attachment)
1. External Public Debt was only 11% of GDP at end of 2008
2. Economic Performance
3. Fiscal Budget Performance
4. Inflation Performance
5. Key Statistics
2. CAUSES OF THE CRISIS IN UKRAINE ----- (see attachment)
1. Large Current Account Deficit
2. External Debt Problem
3. Banking Sector Weaknesses
3. FIVE PILLARS OF CRISIS RESOLUTION ----- (see attachment)
Based on extensive international experience, to resolve successfully a financial crisis, the following five "pillars" should be implemented:
1. Establish strong Organizational Arrangements to confront the crisis
2. Secure Substantial Foreign Financial Assistance
3. Implement a comprehensive program for Troubled Banks and their borrowers
4. Implement a Macroeconomic Stabilization Program
5. Implement Structural Reforms for to revive economic and export growth.
4. PROSPECTS FOR THE FUTURE ----- (see attachment)
