The Foundations are in Place on which to Continue to Build a Democratic and Prosperous Ukraine - Matteo Patrone

19.07.2019

We are confident that the foundations are in place on which to continue to build a democratic and prosperous Ukraine, said Director for Ukraine at the European Bank for Reconstruction and Development Matteo Patrone.

“Despite inconsistencies and setbacks, on balance we have also seen fundamental progress with macroeconomic stability, sustained (even if insufficient) growth, reforms ranging from decentralisation of government to implementation of an ambitious IMF programme, from stabilisation of the banking sector thanks to concerted action by the Finance Ministry and the National Bank to a reshaping of the energy sector,” he wrote in the Financial Times.

Moreover, he noted that the reform of the state administration and strengthening of institutions was another equally ambitious and noteworthy effort that was also seriously reducing space for corruption.

“The country’s aspiration to be firmly anchored in the west is a strategic choice that clearly also includes values such as free speech and free elections. Transparent and accountable governance must now be the next logical steps,” Matteo Patrone added.

He also focused on the next steps, that Ukraine should make for the sake of future development.

“What Ukraine needs is very clear and has been spelt out by countless advisers: strong international ties, de-oligarchisation, fight against corruption, land reform, independence of the judiciary and state institutions (including the central bank), wealth creation, a more equal distribution of opportunities and full accountability of everyone in a position of power,” he explained.

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