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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 Credit Portfolio Scenario Depends on World Bank Coauthors

15 June, 1999 - 00:00

By Petro IZHYK, The Day

Johannes Linn, World Bank Vice President for the European and Central Asian
Region, held a news conference in Kyiv on June 9 to sum up his visit to
Ukraine. In the course of the visit he met with the President, Prime Minister,
and Speaker, discussing Ukraine's credit portfolio and prospects for further
cooperation.

Considering the delay in parliamentary ratification of World Bank project,
Mr. Linn proposed a systemic approach; a law accepting the total amount
of World Bank financing rather than considering each project separately.
This, in his opinion, will expedite the allocation of installments.

The World Bank Executive Director singled out three major directions
regarded by his institution as priorities in the Ukrainian economy: stepping
up the privatization process; providing favorable business development
conditions (including reducing government verifications), and administrative
reform. Depending on progress here, stressed Mr. Linn, two scenarios of
World Bank cooperation with Ukraine would be possible: a more and a less
active one, meaning, of course, different credit amounts.

Thus far there is little evidence that the Ukrainian leadership's activity
in terms of the priorities outlined by Mr. Linn are appreciated by those
writing the scenarios.

 

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