This event is a part of the SAFE-CEPR European Financial Architecture Research Policy Network and it is by invitation only.
Financial aid for the Ukraine is rising by the day. Significant amounts have already been committed, and much more is expected to follow, from various sources in- and outside the European Union. Some estimates of total funds required for the reconstruction are in the order of 1 trn Euro. Several reports have discussed where, how, and when these huge amounts should be spent, e.g. the EU-World Bank report in August, and CEPR’s recent report on Ukraine in December 2022.
However, good plans are like good intentions – they need to stand the test of actual implementation. If push comes to shove, the great reconstruction effort may miss its target and, against all good intentions, may be misdirected into the pockets of a new generation of oligarchs. What can we do?
An appropriate counter measure not yet discussed in any depth is to start from Ukraine’s existing financial structure and its institutions, and to think about possible reforms of, and innovations in its financial system, strengthening transparency, accountability, and reliability of its role as a channel for the mentioned reconstruction efforts.