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Wednesday, 18 June 2014

Poroshenko names new NBU head, Foreign Minister and Prosecutor General - #Ukraine @Programa_PP

Poroshenko names new NBU head, Foreign Minister and Prosecutor General - Ukraine - News - Ukraine Business Online: "-"

2014/6/18 22:13:36
Poroshenko’s first major appointments all appear to be highly qualified, Western-oriented professionals who are “very credible, pro-Western, market and business friendly people.” If the top tier – Gontareva/Klimkin/Yatsenyuk/Sheremeta – indeed do represent what Standard Bank’s Tim Ash calls “something of a dream team” then we could be on the way to the most productive presidential administration in Ukraine’s short and tumultuous history as an independent, post-Soviet nation.














KYIV/LONDON, June 18, 2014 (UBO) – Responding to President Petro Poroshenko’s naming of his choices for certain top level government positions, Standard Bank chief emerging market economist Timothy Ash offered the following comments this afternoon:



We are seeing Poroshenko appoint very credible, pro-Western, market and business friendly people.

[Pavlo] Klimkin, the new foreign minister "elect" was appointed ambassador to Germany in June 2012 by Yanukovych, but he is a technocrat. Young, and liberal - he played a key part in negotiating the AA/DCFTA with the EU, so is committed to the EU integration process. He speaks German/English, and is a mathematician/physicist by training. Appointing the Ambassador to Germany clearly shows where Poroshenko's orientation lies, and underlines the importance of Merkel and Germany of shaping Ukraine's future now.

Some might see Klimkin's appointment as a sop to Moscow, in that he replaces Deshchytsya who had caused furore in Russia for his expletive references to Putin - but this is the new language of diplomacy, see the Nuland tapes. I don't really see it that way.

Under the 2004 constitution, Poroshenko only has 3-4 portfolios which he can fill - defense, foreign affairs, national security, pros general and I think the NBU. So he was always likely to put his people in these positions so as to enforce some authority over the Maidan administration.

Poroshenko has also named [Vitali] Yarema as prosecutor general - another young, dynamic reformer, with a history in law enforcement, and Maidan credentials, while also having political background in Tymoshenko's Batkivshchyna party, and Yushchenko's Our Ukraine.

Gontareva/Klimkin/Yatsenyuk/Sheremeta make something of a dream team on the reform/pro Western front. Not sure any of these are sops to Moscow.

But let’s see how this all pans out with the key still being the ability of Poroshenko to stabilise things on the ground in SE Ukraine - and somehow build bridges with Moscow sufficient to get them to call off the insurgency in Donetsk and Luhansk to give this administration some hope of success on the economy front.

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



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Photo courtesy of Presidential Press Office depicts President Poroshenko participating in festivities on the occasion of student graduation at Ukraine’s Ivan Chernyakhovsky National Defense University, June 18, 2014.
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