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Friday, October 30, 2009

The Impact of the Global Liquidity Crisis on Ukraine and the Road to Recovery

Yesterday, in my previous post it was mentioning about Sigma Bleyzer analytical materials.

The Bleyzer Foundation position paper "is a brief summary of the key economic challenges facing Ukraine. The disproportionately large impact of the recent international liquidity crisis on Ukraine, compared to other peer economies, calls for a thorough assessment of pre-crisis economic conditions and policies. A good understanding of these issues is necessary to evaluate the effectiveness of adopted anti-crisis measures. More than that, this analysis will help to calibrate current macroeconomic policies in order to achieve a quick and sustainable economic recovery."

The major issues covered by the position paper are:

1. Why did the international liquidity crisis affect Ukraine more than other emerging economies?
2. Ukraine’s main vulnerabilities to the financial crisis in 2008.
3. Why the local currency depreciated more than the currencies of other countries.
4. Why the real sector, including GDP and exports, declined so dramatically.
5. What measures taken by the Ukrainian authorities to deal with the crisis were adequate and what measures were inadequate.
6. Measures that the country could undertake to avoid deepening the crisis during the Presidential election period and until a new government is in
7. Measures that the country should undertake in the medium term to accelerate economic development.

Today you can download this excellent report.