Basil A. Kalymon and Oleh Havrylyshyn, two well known western professors, who have Ukrainian roots, presented their view on current economic situation in Ukraine. They think that, despite Russia's hybrid war against Ukraine has largely triggered the economic and financial crisis, “the root cause of Ukraine's economic malaise is its culture of corruption, which has persisted for decades and has earned Ukraine the dubious distinction of being ranked among the most corrupt economies in the world. At the core of Ukraine's debt issue is the massive theft of state assets over time. The state sold valuable holdings to oligarchs for next to nothing. At the same time, the government amassed large amounts of external debt.”
Professors consider critically important steps to reduce the oligarchs' power and resolve the economic crisis:
- recover all funds illegitimately pilfered by Yanukovych and his gang
- review the effectiveness of all key state enterprises and appoint new managers to run them
- fix unfair and ineffective taxation system
- prevent oligarchic interests from transferring funds to offshore entities
- change the situation, when oligarchs’ interests continue to be protected at the highest levels of government. Read more at http://www.atlanticcouncil.org
- review the effectiveness of all key state enterprises and appoint new managers to run them
- fix unfair and ineffective taxation system
- prevent oligarchic interests from transferring funds to offshore entities
- change the situation, when oligarchs’ interests continue to be protected at the highest levels of government. Read more at http://www.atlanticcouncil.org
