Parliament Dismissed Finance Minister

UKRAINE - In Brief 07 Jun 2018 by Dmytro Boyarchuk
Finance Minister Oleksander Danylyuk was dismissed with 254 MP votes. It’s a big loss for the Cabinet, in my view. But probably there was no other way out after public scandal between Prime-Minister and Finance Minister – one of the two had to leave. Oksana Markarova will become acting Minister of Finance. Markarova is seen as a person loyal to Prime-Minister Volodymyr Groysman. Probably, later there will show up another name for this place. In particular, Nina Yuzhanina former Chief accountant of Poroshenko and currently Head of Parliamentary Committee on Tax and Customs Policy is discussed as a candidate for this position. How that will affect the IMF talks? The IMF will need a permanent person in the chair of Finance Minister to take commitments. Danylyuk was positively perceived. Markarova also will be able to establish good relations. However, I do not expect the IMF talking seriously with someone who is only ‘acting’. Now President and Prime-Minister will have to agree on a new candidate acceptable for both. Anyway, I would expect the IMF to take a pause and to wait when the dust settles down. Now the Fund will be evaluating the ‘compromise’ on anti-corruption court which was approved today. It will take time on Ukrainian side to complete all details and for President to sign the law. Then it will take time on the side of the IMF to make conclusions on such ‘compromises’. Now it looks like that the story with the IMF moves to September. By that time it will be clear who is the new master of public finances in Ukraine.

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