Policy Reform in the Making

Mission Possible: The True Story of Ukraine's Comprehensive Banking Reform and Practical Manual for Other Nations

"Policy Reform in the Making" is a new series of the Institute. We intend to feature original contributions from prominent policymakers, particularly in emerging and developing economies. The idea is to provide interesting material that can inspire reformers, but also academics and students. We could not have a better first contribution. Valeria Gontareva's book "Mission Possible" is a most insightful, rich, candid and passionate account on her approach and policy experience. She calls it a "Practical Manual" for reforms - it is that but also so much more: a historical record of reforms against all odds. Enjoy!

Many emerging economies often lack a practical experience in systemic transformation to fully-functioning market-oriented economies and this Practical Manual will help you with this task. Moreover, the book is precisely about how to accomplish drastic reforms in a wartime. And I truly believe that COVID-19 war time is a good time to do reforms. When governments and central banks around the globe spend enormous amounts of money to save lives and jobs, they can, in parallel, improve processes and eliminate inefficiencies.


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Valeria Gontareva

Institute of Global Affairs