By Robert Wenzel | 26 March 2017
ECONOMIC POLICY JOURNAL — Chicago-born Natalie Jaresko, the former finance minister of Ukraine has just announced she has been made chief executive of the Financial Oversight and Management Board for Puerto Rico.
In a Facebook posting, she wrote:
I am honored and humbled to be taking on a new, critically important position to put Puerto Rico back on a path to fiscal stability.
The Board is tasked with assessing and certifying annual budgets and a fiscal recovery plan presented by the island’s government and facilitating debt restructuring talks on the island.
Puerto Rico is suffering from years of fiscal deficits and the related debt burden. Yet, the opportunities are equally great based on the steps foreseen in the certified fiscal plan to restore liquidity and debt sustainability.
Implementation of this plan will be a first step in returning stability and confidence to investors and Puerto Rico’s 3.5 million U.S. citizens.
This is a second stint for her running a country’s finances.
Between 2005 and 2010 Jaresko was a member of Ukrainian President Viktor Yushchenko’s Foreign Investors Advisory Council and the Advisory Board of the Ukrainian Center for Promotion of Foreign Investment.
She managed to survive all kinds of turmoil. Nine months after the 2014 U.S. instigated Ukrainian revolution which resulted in the ouster of President Viktor Yanukovych, Jaresko was offered the post of Minister of Finance, which she accepted. She left the government in 2016 after another change in Ukranian leadership. […]