Ukraine is quite successfully moving in certain reforms; however, there are many things to be taken care of in other areas. David Lipton, the IMF First Deputy Managing Director said that in his commentary for Ukrainsky Tyzhden’ magazine.
‘In many countries, corruption begins where oligarchs can use banks to their own advantage, to support corrupt activities or companies, to conduct illegal payments through financial institutions. Wherever there is decent bank management in Eastern Europe, there’s less corruption,’ he said.
According to him, ‘proper work of institutions is one of the dimensions where corruption issues can be solved. That was solved when the National Anti-Corruption Bureau was created in Ukraine. Another important area is transparency and matters of e-declarations. The third topic is legal frameworks and internal management of banks and companies, so the government and the president should take it all seriously. Another dimension is clearing of the banking system,’ Lipton stressed.
