Ash comments on reports Poroshenko wants Natalie Jaresko as finance minister

2014/12/1 20:44:45

UBO Comment: Very well-prepared, highly experienced and tough as nails, she brings with her the unique ability to pick up the phone and reach virtually any decision maker in Washington without any introduction necessary; they know her – and they trust her. We cannot imagine a better choice.

 

< Photo: Natalie Jaresko



 

 

 

 

 

 

 

 

KYIV/LONDON, Dec 1, 2014 (UBO) – Responding to news reports that Natalie Jaresko, a highly respected member of the Ukrainian Diaspora with two decades of in-country experience would be the Poroshenko party choice for finance minister, Standard Bank economist Timothy Ash said in opinion provided at 18:29 today the following:

 

Natalie will certainly shake things up at the MOF. Respected financier, and a "mover and a shaker" which is likely just what the MOF, and indeed what most Ukrainian ministries urgently need. I guess her biggest issue will be her US nationality, but I would expect legislation to be amended to facilitate this. She fits the bill as an international expert, clean, and likely to be a radical thinker - able to think outside the box in terms of ideas. Ukrainian speaker, and has been resident in Ukraine for years so knows how things work, or rather don't work. Tough job though, as the remit will likely be cutting budget spending by as much as 10% of GDP over the medium term.                                                                                                        

 

Other names being mentioned include former finance minister under YT, Viktor Pynzenyk. He actually resigned from a YT cabinet, and then joined Klitschko's faction. Again a reformer, German speaker, and seen as being very capable. If the nationality issue is a problem he might be a backstop for Jaresko. Arguably his only downside is that he has done the job before, and might be seen as not new/radical enough.                                                                                                                                          

 

The other potential candidate still is incumbent deputy minister, Vitali Lissovenko. Again very capable - English speaking. Young/dynamic, generally well thought of, and has the advantage of being in the ministry for the past 6 months or so, so hopefully he knows where all the skeletons are hidden, or at least will be able to hit the floor running in terms of keeping the existing IMF programme on track.

                                                                                                                                            Incumbent finance minister Shlapak had made it known that he does not want to remain in his current job, although has been mentioned in dispatches as a potential new central bank governor - albeit that does not square with his desire to spend more time with his family. We also are not sure even whether there will be any change of Governor at the NBU - unclear whether the press commentary about this these days has any substance.

 

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The Ash commentary above represents a personal view, is not investment advice or Standard Bank research, but may contain extracts from published research.

 

Photo courtesy Viktor Pinchuk Fund

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