Download Speedy Current Affairs September 2023 Pdf

Re-privatization of former state enterprises sold under questionable circumstances was one of the most contentious issues for the previous cabinet, in the end helping to precipitate its downfall. Mixed signals coming from the Ukrainian government during the first eight months of the Yushchenko presidency were some of the key problems in gaining investor confidence. The critical need now is for the government to establish a straightforward plan to resolve the issue and move on. President Yushchenko has now resolved to pursue speedy and amicable resolution of the most difficult cases. That's encouraging.

Other problems are deeply rooted and will require constant attention:

The new administration has to step up the fight against corruption. It pervades many levels of both government and the private sector and it seriously discourages investors. The 2004 Corruption Perception Index of Transparency International ranked Ukraine at 122nd place, near the bottom of the list, well below most other European countries.But how do you fight corruption? Many of you know the answer. You start by publishing government budgets and revenues, disclosing official incomes, and rigorously investigating and prosecuting wrongdoing. These help eliminate opportunities for malfeasance. It isn't easy but it's very important.Weak rule of law and a poorly-functioning judicial system have been largely responsible for the failure to resolve many longstanding commercial and investment disputes. The lack of resolution of at least some of these disputes is another major disincentive for increasing trade and investment.There is a need to streamline regulations and make the rules of doing business more transparent. The recent World Bank report, "Doing Business," ranks Ukraine in the bottom 25% for ease of doing business.One of the priorities of legal reform should be reform of the old Soviet style Commercial Code that conflicts with the modern Civil Code. Another is to adopt the law on Joint Stock Companies to strengthen corporate governance. It was very good to hear President Yushchenko in New York two weeks ago say that he wanted to deal with these issues. The factionalism of the previous cabinet undermined coherent macroeconomic policy, leading to price controls and other forms of undue state interference, along with frequent reversals of policies. It is essential that the new cabinet maintain a steady policy that minimizes state intervention and allows the market to function efficiently.

The U.S. government is providing advisors to the Ukrainian government in areas such as banking policy, tax administration, energy, and macroeconomic management. We are optimistic that this technical assistance will help the government develop the policies it needs to integrate successfully into the world market economy.