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Where there is no law, but every man does what is right in his own eyes, there is the least of real liberty
Henry M. Robert

Ukrainian Economy in Uncertainty

9 April, 2002 - 00:00

Merrill Lynch, a US financial corporation, has released a review of emergent markets titled “Ukraine: Predictable Results of Elections. What Now?” Despite a “fair share of uncertainty,” first of all caused by the post-election relining of political forces, the company makes quite a neutral forecast for the development of situation in Ukraine. Company experts believe the lengthy process of Cabinet formation and continuation of moderate reforms is the most likely scenario of developments in Ukraine. “This uncertainty will not contribute to reforms in the short term,” Merrill Lynch points out. According to company analysts, Ukraine’s new government, whatever its composition, is sure to run into basic difficulties in carrying out reforms. Merrill Lynch also notes that the demand for Ukrainian eurobonds, as well as economic situation as a whole, will greatly depend on the condition of the Russian economy. In all probability, this country’s current government agrees to this appraisal (including on Ukrainian-Russian relations), which is shown by the fact that Prime Minister Anatoly Kinakh and his first deputy Oleh Dubyna paid their first post-election visits to Moscow.

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