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WCED Lecture. Ukraine: The Next Stage of Transition

Natalie Jaresko, Minister of Finance, Ukraine (2014-16)
Monday, November 7, 2016
5:30-7:00 PM
Helmut Stern Auditorium Museum of Art Map
Ukrainians overwhelmingly voted 25 years ago for freedom and independence, to break from the tyrannical past of communism and the Soviet Union. Natalie Jaresko will review how Ukraine has become stronger or weaker since independence, and look at efforts to rebuild society, the economy, institutions, rules, regulations, and systems. Focusing on developments in the past two years, during which Ukrainians have fought to retain their valuable freedom and independence, she will look at how the horrendous war to defend territorial integrity and the values of Ukrainian people has affected the transition process. Drawing on her experience as Finance Minister, Jaresko will explore what can be done to hasten this transition, asking how Ukraine can cement the progress of the past while defending itself in a hybrid war and avoiding the risks of populism. She will offer suggestions for urgent steps that need to be taken to turn Ukraine's opportunity and potential into competitive realities.

Natalie A. Jaresko has enjoyed a distinguished international career in public service and private industry. As Ukraine’s Finance Minister from December 2014 to April 2016, she served at a particularly critical moment when the post-revolutionary state was rocked by deep recession and war on part of its territory. During her tenure she led the successful negotiation of the largest IMF program in the institution’s history, as well as a complex debt restructuring. Her government’s success in restoring macroeconomic stability enabled the creation of a broad international financial coalition to support Ukraine’s transition. She led the reduction of public spending, cutting the deficit by more than 75% to 2.1% of GDP in 2015. She also advanced tax reform resulting in an almost 50% reduction in payroll tax, eliminated tax privileges which favored vested interests, implemented a transparent e-data system placing all treasury transactions online in real time, and initiated corporate governance reform in state-owned banks.

Previously, she spent two decades creating a platform for private equity investment in the region, working as co-founder and CEO of Horizon Capital, a fund with over $600 million under management, and as president and CEO of Western NIS Enterprise Fund. Jaresko began her career in public service in the United States, serving in the State Department from 1989-92, then as Economic Section Chief of the U.S. Embassy in Ukraine from 1992-95. She currently serves as Trustee Board Chair for Aspen Institute Kyiv and is a member of the WEF Global Agenda Council on the Future of Financing and Capital.

Abstracts reflect the views of our speakers, which may be varied. We expect a lively discussion.
Building: Museum of Art
Event Type: Lecture / Discussion
Tags: Democracy, Economics, European, International, Politics, Ukraine
Source: Happening @ Michigan from Weiser Center for Emerging Democracies, International Institute, Center for Russian, East European, and Eurasian Studies, Weiser Center for Europe and Eurasia