Light at the end of the tunnel: Where Ukraine’s banking system is moving

The phrase, money is the lifeblood of an economy, maybe a bit hackneyed, but its essence is quite correct: just about everyone in a country depends on financial relations. And so if we want to change a country and its economy for the better, we have to reform both relations within the banking system and the financial infrastructure. This simple logic makes it quite clear why banking reforms are necessary, and why it, highly symbolically, was one of the first to be launched after the Revolution of Dignity.

Perhaps when the reform of the banking sector was planned, removing it from the clutches of the oligarchs was not an explicit priority. Perhaps the idea wasn’t even on the agenda. But today it’s obvious that the changes to Ukraine’s banking system have not only brought more reliability, technology and efficiency, but also removed the lion’s share from the influence of oligarchs. And this means the reforms have been successful even if they aren’t yet completed.

READ MORE HERE