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Achieving Financial Stability in Ukraine


Global economic pressures and the escalating conflict with Russian-led separatists are among the factors taking a significant toll on the Ukrainian economy. As president of the Academy of Financial Management of Ukraine, Tatyana Iefymenko is leading ambitious efforts to achieve financial stability, strengthen public finances, and advance structural reforms. 

Iefymenko has attended Harvard Kennedy School Executive Education's Public Financial Management in a Changing World and Comparative Tax Policy and Administration, with the experiences having a major impact on her work. 

"Going to these sessions," she says, "has given me the opportunity to provide essential insights into Ukraine's reform agenda—specifically, economic growth incentives in connection with improving economic governance, taxation, and the business climate in order to restore the confidence of national and international investors and mobilize domestic financial resources." 

In order to secure financial support from the International Monetary Fund (IMF), the Ukrainian government has committed to the implementation of sweeping economic and financial policies. According to Iefymenko, the IMF managing director has been impressed with the progress being made. 

Iefymenko says Ukraine will need the continued financial and educational support of the IMF and other international organizations to keep the country moving in the right direction. HKS will also play an important role. 

"I undoubtedly see myself returning for more HKS Executive Education sessions," she says. "I'm grateful to HKS for creating an environment that encourages sharing best practices in governmental financial management."