Announcement of the panel discussion “Does Ukraine need its own macroeconomic policy?” [30.11.2015]

27 November 2015

Centre for Economic Strategy and Ukraine Crisis Media Center invite experts and journalists to join a panel discussion “Does Ukraine need its own macroeconomic policy?”. The event will take place in the Ukraine Crisis Media Center in November 30 at 14.00-16.00 (address: Ukrainian House, European Square, 2 Khreshchatyk Street, Kyiv).

With the support of the International Monetary Fund (IMF) Ukraine has been able to grow its foreign exchange reserves, renew still vulnerable macroeconomic stability, and restructure its foreign debt. Under pressure of external creditors, Ukraine has adopted progressive reform-oriented laws, which could stay at draft stage in the reverse case. There are many examples in the world when cooperation with IMF let countries renew their economic stability and make their way towards economic growth. However, at the same time, there are countries, which ran their own macroeconomic policy counter to the IMF’s temporary recommendations and achieved success.

Does Ukraine have its own macroeconomic policy that is better than the policy advised by the IMF? Have Ukrainian leaders delegated the management of the country’s economy to the International Monetary Fund?

Questions for discussion:

  1. Leadership and ownership – Is the IMF program a cause or an effect of the fact that Ukrainian leaders do not take full responsibility for reforms? Is there any chance that a strong domestic leader-reformer could appear under the IMF program? Can required drastic changes be effectively implemented only under external pressure?
  2. Should the framework of cooperation with the IMF include anticorruption reforms in addition to economic structural indicators? Could Ukraine be successful in the anticorruption fight without external pressure?
  3. Is there a chance that Ukraine would be deprived of external financial support because of a breach of IMF recommendations? Would it result Ukraine’s economy collapsing and reform termination?
  4. Are there reforms in Ukraine that are desirable, and need reconsideration of the economic policy agreed with the IMF?

Format of the discussion:

  • Seven speeches:
    1. Andriy Kyrylenko, Visiting Professor of Finance at the Brevan Howard Centre for Financial Analysis, Imperial College Business School, London
    2. Jerome Vacher, IMF Resident Representative in Ukraine
    3. Artem Shevalev, Deputy Minister of Finance for European Integratio
    4. Dmytro Sologub, Deputy Governor of the National Bank of Ukraine
    5. Volodymyr Fedorin, Co-founder of Bendukidze Free Market Centre
    6. Zakhar Popovych, Deputy Director of the Centre for Social and Labor Research
    7. Roman Sulzhyk, Chairman of the Supervisory Board of National Depository of Ukraine
  • Q&A session
  • Discussion session

Total duration – 2 hours

Moderator of the discussion:

  • Taras Kachka, Ukraine Crisis Media Center

The discussion will be held according to the rules: participants can use received information freely, make direct quotations.

If you would like to participate in the discussion, we would like to ask you to email us: office@ces.org.ua.

If you have partners who may wish to participate in the discussion, please forward this invitation to them and give them our contacts.