Ukraine Needs Comprehensive Economic Reforms to Begin Now

Majority of Audience Votes for Motion at Debate Sponsored by the
Foundation for Effective Governance and Intelligence Squared

KIEV, Ukraine, April 29 /PRNewswire/ -- The current economic crisis in Ukraine
will not be solved unless comprehensive long-term reforms begin now, a
majority of audience members concluded during an Oxford Style debate held
recently in Kiev. The event was organized by the Foundation for Effective
Governance (FEG) in partnership with London-based Intelligence Squared.

Panelists provided arguments for and against the motion that "the economic
crisis is the best time to introduce major economic reforms" in Ukraine.
Audience members were invited to vote before and after the debate.

"While making decisions on radical economic changes during the crisis, the
authorities have to calculate the existing risks and study thoroughly the
value of the issue," stated Nataliya Izosimova, Managing Director of the
Foundation for Effective Governance.

Leonid Kuchma, former President of Ukraine affirmed: "I think all of us should
be cautious about the tendency towards economic nationalization and the
strengthening of the government's regulatory function. The driving force of
exiting the crisis must not be the government sector, but liberation in the
practice of enterprises, including both small and medium businesses."

The debate featured a total of three speakers on either side of the motion.
Each speaker was given eight minutes of uninterrupted time to present their
arguments, followed by a question and answer session, closing statements, and
a final audience vote.

Sergey Glazyev, former deputy of the State Duma and a former candidate for
President of Russia spoke for the motion: "Past experiences suggest that only
forceful innovations can overcome this crisis. It is necessary to learn how
to organize the monetary system, build the long-term credit of the economy,
conduct complex industrial, scientific and technical policies, and create a
favorable innovative environment. For all this to occur, a revolution in the
system is necessary."

In her speech against the motion, the former Prime Minister of Canada Kim
Campbell argued that the economic crisis in Ukraine was triggered primarily by
problems in state management rather than market relations. She cautioned that
reforms could further complicate the situation if they are not instituted
correctly.

"The debate format we employ is a new concept for most Ukrainians," noted Nick
Pisani, CEO, Intelligence Squared. "We are encouraging a civilized discussion
of topics that are critical to the future of the country, in hopes that it
will help lead to a better future for the country."

This was the second in a series of debates on the Ukrainian economy planned in
2009 by Intelligence Squared and FEG. Future topics will include
administrative reform, tax policy, and other current issues. More information
on the debates can be found at http://en.debaty.org.

About The Foundation for Effective Governance: The Foundation for Effective
Governance (FEG), an independent public policy institution, was formed in 2007
by Ukrainian businessman Rinat Akhmetov. FEG's main objective is to encourage
the development of long-term national economic programs for Ukraine, through
the formulation of practical policy solutions to the political, economic and
social challenges facing the country. The basic principles governing FEG's
activities are independence, a focus on economic development, openness, and a
practice-oriented approach. FEG's International Advisory Board includes
former Prime Minister of Canada Kim Campbell, Chair; former U.S. Sen. Lincoln
Chafee; and Gyorgy Suranyi, former president of the National Bank of Hungary.
More information is available at www.feg.org.ua/en.

About Intelligence Squared: Intelligence Squared has a long and successful
history of conducting Oxford style debates in London, Sydney, New York, and
other major cities. Starting from January 2009, the debates in London and New
York are broadcast on BBC World News. It is estimated that 70 million viewers
around the globe will watch the forums.

SOURCE Foundation for Effective Governance

Joshua Greenwald, Rubenstein Public Relations, +1-212-843-8037, or
jgreenwald@rubensteinpr.com