Ukraine: What Went Wrong and How to Fix It


April 17, 2015, 12:00 AM EDT
Peterson Institute for International Economics, Washington, DC
Anders Åslund (PIIE), Natalie Jaresko (Minister of Finance of Ukraine) and Aivaras Abromavicius (Minister of Economic Development and Trade of Ukraine)

Event Summary

The Peterson Institute launched a new book titled Ukraine: What Went Wrong and How to Fix It by Senior Fellow Anders Åslund on April 17, 2015. Ukraine's Minister of Finance Natalie Jaresko and Minister of Economic Development and Trade Aivaras Abromavicius presented their visions of Ukraine's economic future at the book release, followed by a panel discussion with the ministers and Åslund.

Beset by Russian military aggression and the legacy of many years of economic mismanagement, Ukraine faces a severe crisis. Yet in 2014, Ukraine changed regimes and carried out both presidential and parliamentary elections that were widely deemed free and fair. Last December, the new government presented a comprehensive reform program, and on March 11, the International Monetary Fund approved a four-year stabilization program of $40 billion for Ukraine.

Natalie Jaresko was appointed minister of finance of Ukraine in December 2014. Previously she worked in the private sector, first as president and chief executive officer of Western NIS Enterprise Fund (WNISEF) and later as managing partner and chief executive officer of Horizon Capital, a private equity fund manager she cofounded in 2006. From 1992 until 1995, she worked as chief of the economic section of the US embassy in Ukraine.

Aivaras Abromavicius was appointed minister of economic development and trade of Ukraine in December 2014. Previously, he worked as fund manager and partner of East Capital Asset Management group. He has worked in the financial sector in Estonia, Sweden, Russia, and Ukraine.

Anders Åslund has been senior fellow at the Institute since 2006 and has followed the Ukrainian economy closely since 1985. He served as an economic advisor to the Ukrainian government from 1994 to 1997 and he co-chaired two blue ribbon commissions on economic programs for Ukraine.