The situation with economic reform in Ukraine increasingly resembles the well-known sketch by famous Soviet-era comedian Raikin:
“Who sewed my suit?”
A hundred people come out and say, “we did.”
“I am asking who sewed my suit? Who put pants instead of sleeves on it?”
“I sewed on the buttons, is there anything wrong with the buttons?”
“No, they are sewed on for good, you wouldn’t be able to tear them off.”
This is exactly what happened in Parliament last Friday:
“I am in charge of the monetary policy. Is there anything wrong with the monetary policy?”
“No, there isn’t. But who let the economy fall apart, who is to blame for not supporting the stable hryvnia with structural economic reform?” the deputies asked.
This is how last FridayХs discussion of NBU Governor Viktor YushchenkoХs 1997 report looked in Parliament. Yushchenko pointed out that Ukraine has never implemented a rigid monetary policy. Nevertheless, the aspects of monetarism that the NBU did use in its work enabled it to accomplish the main goal for 1997, which was to stabilize the hryvnia. Most of the deputies, while not overtly expressing any concerns about the NBUХs work last year, went into seeking an answer to the most popular question now: who is to blame for the present crisis? The Communist and the Progressive Socialist factions displayed much eagerness to punish someone, if not Kuchma and Pustovoitenko, then at least Yushchenko, even though it was not he who ТsewedУ structural economic reform in this crisis. However, in all truth, some of what he did ТsewУ is rather questionable, too.
The deputies did not adopt any of the proposed resolutions on YushchenkoХs report and postponed making a final decision on the issue until this Tuesday.
