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USUBC MEETING WITH NATALIE JARESKO, MINISTER OF FINANCE U.S.-Ukraine Business Council (USUBC)
U.S.-Ukraine BusinessCouncil (USUBC),
Wash, D.C., Friday, September 25, 2015
YOU ARE INVITED TO ATTEND a USUBC members small, private, by invitation only, meetingwith Natalie Jaresko, Minister of Finance of Ukraine, on Friday, September 25,2015, from 4:45 p.m. to 6 p.m., in the White House Conference Room at theoffices of Baker & McKenzie, 815 Connecticut Avenue, 12th Floor,Washington, D.C., followed by a light reception. USUBC is very fortunateto have this unique opportunity for members to meet with the Minister.
Minister Jaresko, as youknow, has been an outstanding and influential member of the newgovernment of Ukraine since she was appointed last December. Jareskomanaged the recent work by the government of Ukraine to restructure the foreigndebt.
Just last week the Verkhovna Rada adopted the legislation necessary tolaunch the legal procedure of foreign debt restructuring. 226 votes werenecessary, but finally more than 300 votes were given for the legislationpackage. The Ministry of Finance welcomed the successful vote at the VerkhovnaRada and was grateful to the people’s deputies for their commitment to thelegislation which is crucial for the stability and economic recovery of Ukraine.
DEAL BETWEEN THE MINISTRY OF FINANCE AND SPECIALCREDITOR'S BOARD
The agreed deal between the Ministry of Finance and the Special Creditors’Board on the restructuring on the foreign commercial debt of Ukraine is a majorsuccess for Ukraine and the core element of the plan of the Ministry ofFinance aimed to stabilize the Ukrainian economy and to lay ground for it toreturn to growth.The main points of the agreement are:
(1) the principal value of the sovereign debt guaranteed by the Ukrainianstate shall be reduced by 20% (USD 3,6 bn) with immediate effect;
(2) the repaymentof USD 11,5 bn shall be postponed and effected after 2019. Thus, Ukrainereceives a free-of-charge period of four years to recover its economy andreturn to the sustainable growth of its GDP.
Thereduction of the debt burden on Ukraine will help strengthen the macroeconomicstability, recover the economy and to attract more investments to the country.The debt restructuring agreement contributes to three restructuring goals asset in the cooperation programme of Ukraine and the IMF “Extended FinancingFacility”. This was one of conditions necessary to continue successfulcooperation between Ukraine, the IMF and other bi- and multilateral partners ofUkraine.
RSVP: Registration is required for attendance at the USUBC members meeting withMinister Jaresko. Please register by sending an e-mail to firstname.lastname@example.org. Attendees willbe notified about the location of the meeting. A light reception willfollow the meeting. USUBC thanks our member Baker & McKenzie forhosting this event.
BIOGRAPHICAL INFORMATION: NATALIE A. JARESKO,MINISTER OF FINANCE OF UKRAINE
NatalieJaresko was appointed the Minister of Finance of Ukraine by the Verkhovna Radaof Ukraine on December 2, 2014. Prior to that, she was one of the co-foundersand Chief Executive Officer of Horizon Capital, a fund manager with over $600million under management.
During1995-2001 Ms. Jaresko served as President and Chief Executive Officer ofWestern NIS Enterprise Fund (WNISEF). Prior to joining WNISEF, Ms. Jareskoserved as the Chief of the Economic Section of the U.S. Embassy in Ukraine from1992-1995, and in various economic positions at the State Department inWashington, D.C. from 1989-1992.
Currently, she serves as a Senator of the Ukrainian Catholic University, as aBoard member of the Kyiv School of Economics, and Open Ukraine Foundation; aswell as a member of the World Economic Forum Global Agenda Council on theFuture of Financing and Capital, the German Marshall Fund’s LeadershipDevelopment Council 2015-2017, East Europe Foundation’s Advisory Council,Kyiv-Chicago Sister Cities Committee, Pechersk School International’s Board ofGovernors, and the Selection Committee of the Pinchuk Foundation'sWorldWideStudies (WWS) scholarship program.
Sheis an alumni of the Ukraine Aspen Seminar. In the past, she has served as amember of the President’s Foreign Investment Advisory Council, the SupervisoryBoard of IMI-Kyiv, the Council of Competitiveness of Ukraine, and the Kyiv CityStrategy 2025 Public Council. Ms. Jaresko received her Master's Degree inPublic Policy from the Harvard University Kennedy School of Government in 1989.She received her Bachelor of Science Degree in Accounting from DePaulUniversity in Chicago, Illinois in 1987 and a Certified Public Accountant(CPA).
INVITE:USUBC MEETING WITH NATALIE JARESKO, MINISTER OF FINANCE
Friday, September 25, 2015, 4:45 p.m.-6 p.m. - Washington, D.C., followed by light reception. RSVP required.