New money revives old hopes
Ukraine now has its best chance for economic recovery. In July the president, Leonid Kuchma, carried out a cabinet reshuffle and appointed a new deputy prime minister responsible for economic reform, Serhiy Tihipko, who has a reputation for getting things done. A 37-year-old banker from the southern city of Dnipropetrovsk, he created in Privatbank one of the few start-up banks to grow into a serious financial institution.
The new government, encouraged by a surge in Ukraine’s debt and equity markets, has already succeeded where the previous administration, under the deputy prime minister, Viktor Pynzenyk, failed.
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