Ukraine posted zero economic growth over 2012 and 2013 because serious macroeconomic and structural weaknesses remain unaddressed. A combination of de-facto fixed exchange rate policy, loose fiscal policy together with considerable quasi-fiscal subsidies in the energy sector has led to further widening of the budget and the external imbalances and threatens sustainability.
Read More »
This report assesses Ukraine's
corporate governance policy framework and enforcement and
compliance practices. It highlights recent improvements in
corporate governance... Show More + regulations, makes policy
recommendations, and provides investors with a benchmark
against which to measure corporate governance in Ukraine.
Several developments have worked to improve the corporate
governance environment in recent years, including high
levels of economic growth and a growing demand for capital
growth in Ukrainian industry. The equity market has boomed,
and over 45 companies have issued depository receipts
abroad. A corporate governance code was issued in 2003, and
a number of private-sector and donor initiatives have
continued to work to promulgate the code and introduce good
practice at the company level. Several reforms have been
carried out, including the passage of a new securities law.
The report recommends: (i) a variety of legal reforms,
including a revised company law that would be enacted by the
Parliament, (ii) institutional strengthening, including
focusing the enforcement activities of the Securities and
Stock Market State Commission (SSMSC) on large and traded
companies, and (iii) enhanced listing requirements for the
top tier of the Persha Fondova Totgovelna System (PFTS),
including a requirement to "comply or explain"
compliance with the Ukraine Corporate Governance Principles. Show Less -