George Soros Tackles the Challenges Facing Ukraine

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Billionaire George Soros Ukraine has taken a keen interest in Ukraine. In a recent piece in the NY Review of Books, he identifies and makes recommendations for five big issues facing that nation. George Soros’ depth of understanding about the political and financial challenges facing Ukraine is impressive.

He addresses the issues of corruption, democracy, Russian aggression, and financial policy. George Soros also takes special care to single out actors in the new government of Ukraine. Many of these people, such as finance minister Natalie Jaresko, have given up high-paying jobs in sectors such as investment banking in order to serve their country.

Because of the sincerity involved in the reforms being undertaken, George Soros believes the West should provide more assistance to Ukraine. He sees this as a nation that embodies real democratic values, and as an important potential ally in the region.

One particular view George Soros promotes is that Ukraine should be granted generous debt relief. In looking at the current European landscape, it’s been divided into creditors and debtors. Countries such as Greece are beholden to countries like Germany, and the reforms that the larger country wants implemented. Soros carefully evaluates the roles of figures such as Merkel and Putin in the debt relief process.

Soros writes in unabashed support of Ukraine’s efforts to get a better deal for its debt. George Soros points out the way corruption is being tackled by a new crop of idealistic young political actors. He compares the reforms pursued in Ukraine to the ones demanded by then-US Treasury Secretary Nicholas Brady in the late 1980s. Though Brady is still a player in this world, it seems he would prefer to see Ukraine default. Soros has a big problem with this type of reversal.

With his Open Society Institute, Soros helps support NGOs in the developing world. This organization has had a presence in Ukraine since at least the mid-2000s. Soros understands many of the challenges facing Ukrainian society, in the areas of finance, public health, and infrastructure generally. In recent months, he has called for tougher sanctions against Russia, in retaliation for Putin’s aggression in Ukraine.

Soros possesses a thorough understanding of the conditions that created the crises facing Ukraine. He also has great ideas about how these issues might be solved. With his level of expertise, and commitment to the cause of Ukraine, it seems reasonable to think that he will be heeded. Hopefully, some progress will be made on these issues soon.

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