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Archive for November 17th, 2010

Yanukovych dismisses Chernovetsky and appoints Popov head of Kyiv City State Administration

Posted by the Editor on November 17, 2010


News / 17 November 2010 | 16:19

Yanukovych dismisses Chernovetsky and appoints Popov head of Kyiv City State Administration

Yanukovych dismisses Chernovetsky and appoints Popov head of Kyiv City State Administration

Ukraine’s President Viktor Yanukovych has dismissed Mayor Leonid Chernovetsky as the head of Kyiv City State Administration and appointed Oleksandr Popov to this post.

The texts of the relevant decrees were posted on the Web site of the head of state on Tuesday. The documents did not specify reasons for this decision.

Chernovetsky became the head of Kyiv City State Administration after he was elected the city mayor at the regular elections, and then was re-elected and re-appointed in May 2008.

Popov was appointed the first deputy head of Kyiv City State Administration, replacing Anatoliy Holubchenko on June 15.

Popov, was born in 1960 in Kryvy Rih, Dnipropetrovsk region. He graduated from Tyumen Engineering and Construction Institute. Popov headed housing and utilities ministry in 2006-2007 and in 2010. Before his appointment as minister in 2010, he was a member of the Ukrainian parliament for the Regions Party.

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Parliament to consider draft Tax Code for whole plenary week

Posted by the Editor on November 17, 2010


News / 17 November 2010 | 14:40

Parliament to consider draft Tax Code for whole plenary week

Parliament to consider draft Tax Code for whole plenary week

The Verkhovna Rada will be considering the Draft Tax Code in the second reading and plans to spend the whole current plenary week to do it.

“If necessary the MPs will be working day and night through”, Parliament Speaker Volodymyr Lytvyn noted.

At the meeting of the Conciliation Council of Heads of parliamentary factions and committees decided to consider draft Tax Code article by article, because even after its modifying the draft gets is a lot of criticism, Volodymyr Lytvyn said.

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EBRD: Ukraine should fight economy dollarization through internal borrowings

Posted by the Editor on November 17, 2010


News / 17 November 2010 | 12:52

EBRD: Ukraine should fight economy dollarization through internal borrowings

EBRD: Ukraine should fight economy dollarization through internal borrowings

Ukraine should fight the economy dollarization, in particular, through internal borrowings, primarily at the state level, EBRD CEO Oleksandr Pavlov told the annual conference of the Adam Smith Institute in Kyiv, according to UKRINFORM.

“The internal borrowing market should be developed. Here, the matter concerns the state debt market. A long-term program should be developed on how the state approaches the market to finance its needs. Both primary and secondary markets should develop, it is necessary to raise liquidity of state obligations so that their urgency was raised, so that the state would gradually reach availability of financial instruments in the country by different terms and types, so that the market could see guidelines as to the price of state debt for a long-term period. Long-term government bonds are a guideline, based on which all the local companies and banks issue their bonds,” Pavlov has stated.

In addition, it is necessary to develop local financing institutes, pension funds and unit investment funds, insurance companies, he maintains. It is necessary to develop the short-term crediting market and insurance of risks in the national currency. “These are the necessary elements of the normal market functioning that creates prerequisites for development of the long-term market in the national currency. For today, such instruments are not available in the wide sense,” the banker summed up.

According to the National Bank, Ukrainian economy dollarization fell in January-June 2010 by 2.1 percentage points to 29.6%.

In 2009, the national economy dollarization level grew by 1.06% t잳1.68%.

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Tymoshenko: Only public pressure can stop the authorities

Posted by the Editor on November 17, 2010


News / 17 November 2010 | 11:07

Tymoshenko: Only public pressure can stop the authorities

Tymoshenko: Only public pressure can stop the authorities

Yulia Tymoshenko expressed her support for the small business owners protesting outside the Verkhovna Rada against the adoption of the government’s tax code.

“As the experience of other countries has shown, what’s most important is that you not stop. What do they expect? They expect that you will gather here for a few hours and then go home to put up with all this. They’ll only start taking you into account if you don’t give in and take this matter to the end,” Yulia Tymoshenko told the protesters.

She said that if the tax code is adopted, business owners must continue to defend their rights by striking outside the presidential administration building, demanding that the president not sign the tax code into law.

“If they press the button and adopt this tax code, we must continue the fight. After parliament adopts the tax code, the president has to sign it. Therefore, our next step should be to go to his palace and tell him not to sign it,” she said, according to Tymoshenko’s official website.

Yulia Tymoshenko stressed that only public pressure can prevent the tax code from being adopted and entering into force. “I want to believe that if tens of thousands of people across the country take a stand, we have a chance of stopping this document.”

She thanked the business owners that weren’t afraid to publicly express their disapproval of the government’s actions. “Consolidate Ukraine, consolidate society, delivery information to those people who today accept the television news as the absolute truth,” she added.

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