European Bank for Reconstruction and Development says Ukraine has made the most progress. The country saw over 50 shady banks close since 2014.
As a result, the number of banks in Ukraine plummeted from 182 to 121. The closed banks had weak management, opaque structure and excessive lending.
The World Bank hopes Ukraine’s measures will consolidate the country’s banking sector and that the number of banks will decrease to 100 in 2016.
At the same time, the Transition Report 2015-16 shows that there are factors holding back the reform process. However, over the past year “the overall direction has been positive”.
The report refers specifically to significant progress in infrastructure, as cash-strapped governments increasingly saw the value of private-sector involvement in transport links and municipal services.
An annual EBRD publication, the Transition Report uses a series of indicators to track the progress of structural reforms across the EBRD region that includes central and south-eastern Europe, the former Soviet Union and the southern and eastern Mediterranean.
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