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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

BUDGET/FINANCE 

6 October, 1998 - 00:00

The Hryvnia is More than

Just Money for Ukraine

Last Friday, The Day's editorial office hosted Viktor Yushchenko,
Governor of the National Bank of Ukraine.  A few hours before, President
Leonid Kuchma met with economic and financial experts to discuss the work
of the NBU and of the banking system in general; however, Viktor Yushchenko
was not invited to that meeting and learned about it only in our editorial
office.

What could this mean?  Is the President changing horses for a currency
ford across the crisis that has undermined the financial system of the
country?  Despite all the tricks played by the journalists who attended
the meeting, the NBU Governor stayed away from politics and carried on
a purely professional discussion, proving with specific figures that Ukrainians
have all reasons to trust the hryvnia and the country's banking system. 
Apparently, those were the same trump cards that he had put on the table
of the current difficult negotiations in Washington with the IMF and the
World Bank.  In a word, Yushchenko is trying to stand up for the hryvnia
at all levels and claims that he has all grounds to do so.  Strangely
enough, to some extent the President is publicizing the opposite opinion,
while at the same time appealing not to over-dramatize the situation with
the exchange rate, whose stabilization has so far been the only accomplishment
of the government since Ukraine's independence.  Doesn't this approach
represent an attempt to remove the popular competitor?  The meeting
with Yushchenko did not give a final answer to this question; however,
it did convince the participants that the hryvnia defenders, despite all
the criticism, have a large potential and that they are capable of restoring
confidence in the national currency both in Ukraine and abroad.

For a more detailed account of the discussion, please see the next issue
of The Day.

The Obolon Market

as a Teachers' Survival School

Freshmen in Ukraine's oldest Ivan Franko teacher training college in Korostyshiv
are always told the same thing in their first lecture, "Keep in mind that
a teacher should not be dependent on his salary. You cannot work at school
just to make money. School is a part of your life." The government has
obviously taken these words too literally. The salary of the most respected
members of society does not even allow them to make ends meet, let alone
improve their qualifications and skills.

The Day reporters met Lyudmyla, a Kyiv schoolteacher, at the
Obolon flea market. She is still trying to teach her first-graders to be
wise and kind. However, in her spare time between classes she caters hot
meals to the market traders. "I get only Hr 100 a month," cries out Lyudmyla,
"and my husband, an artist, is the author of several textbooks that are
used in schools across Ukraine, but he is not receiving his salary either.
I simply have no other choice."

As of Teachers Day, back wages for teachers stand at a total of Hr
339 million. In the Ternopil and Kirovohrad Oblasts alone, teachers have
not been paid their legally earned, albeit meager, salaries for two years.
However, teachers from only 14 schools in Kirovohrad Oblast and 2 schools
in Kyiv and Transcarpathian Oblasts each are currently continuing their
strike. 

Region

The Kherson Oblast is regaining its lost reputation as the "tomato republic".
According to predictions, at least 160,000 tons of tomatoes will be harvested
this year, ten times more than last year. The Day correspondent
Vasyl Piddubniak reports that farms will send a major part of the harvest
to collective processing plants and canneries in Kherson and Skadovsk.
The well-known Ukrainian-Swedish joint venture Chumak is working three
shifts these days. Because of a lack of tomato paste, the joint venture
at one time was forced to import the half-finished product from China.
Now there will be enough to even think about exportation: Turkey is making
deals with the Oblast to purchase the tomato paste.

 

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