These are pretty seismic allegations from the head of the Ukrainian tax service, of large-scale, almost “industrial” capital flight by Ukrainian elites. Not sure much of this will surprise anyone, as I think similar trends are evident across many ex-Soviet republics, and developed markets have done very little over the years to counter it.
https://interfax.com.ua/news/interview/696134.html
These allegations are going to prove embarrassing across the Ukrainian spectrum, but I wonder if one result is it ousts any remaining reformers left standing.
Notable here that Naftogaz has been fingered, and see the sharp rebuttal by the management team therein:
https://en.interfax.com.ua/news/economic/696589.html
Recent high-profile resignations from the boards of state-owned enterprises have underlined the pressures that reformers and reform are under these days.
I think economic reform is drifting, some would say even reversing, under President Volodymyr Zelensky, and the hope I guess is that Joe Biden wins the U..S presidential election and then reads the riot act, as he did as the vice president, and this sees the International Monetary Fund re-engage. Guess it’s now a long time until Biden might well take the helm, and just wondering then what will be left of reformers and reform institutions to save at this rate.
At the moment they seem to be under a pretty far-reaching challenge from some of the older forces in Ukraine.
