Black clouds looming in Central Asia

Article Abstract:

Progress towards privatization has been slow in some former Soviet Union territories. In Uzbekistan, for example, a presidential decree in Mar 1997 stated that 25% stakes of privatized companies were to be sold to foreign investors, but there are few real signs of the state sector being opened up. In Tajikistan, progress towards privatization has partly been hampered by civil war. More positive developments have been seen in Armenia, where more than 70% of companies are now outside state control, and in Georgia, where the private sector accounts for more than 60% of GDP.

Eastern Europe

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Real progress lags in Ukraine

Article Abstract:

Ukraine has made a firm commitment to privatization, even though the government has so far raised only limited sums from privatization. Declining financial markets may delay some planned sales, including 56% of the Kherson Oil Refinery and 51.9% of the Odessa Oil Refinery. However, it has been possible to sell 25% plus one share in Ukraine department store to ATS Development Capital Corp, a Cypriot concern. The store's debts must now be paid within 60 days, and ATS must also invest $5 million in store repairs within a year.

Economic policy, Ukraine

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UK Private Finance Initiative accelerates

Article Abstract:

The UK government's Private Finance Initiative (PFI) was initially successful in securing private sector involvement in prisons, roads and defence. The scope of the PFI is now widening, embracing more controversial areas such as education, accommodation and health. It now appears that the PFI has become firmly established, particularly as the government has set up a taskforce within the Treasury to publicize the PFI programme.

Public Finance Activities, Procurement Management-Natl Govt, United Kingdom, Investments, Private sector, Government purchasing

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