Even in normal times, meeting a government’s funding needs through borrowing can be challenging. Wartime conditions – including suddenly increased borrowing needs, a loss of market confidence and operational difficulties – make it even harder. In this interview, Yuriy Butsa, Ukraine’s Government Commissioner for Public Debt Management, answers questions about the challenges Ukraine has faced to date as a result of Russia’s large-scale aggression and about his near-term expectations.
The active development of institutions that protect the rights of entrepreneurs began in the 90s in the European Union, United States and Australia. Only recently have similar institutions been established in the post-socialist regions of Eastern Europe and Central Asia.