Bloomberg Businessweek

Stalin’s Legacy Is Choking The Ukrainian Economy

The government has resisted pressure to lift a ban on land sales, despite pressure from the IMF and investors
Driving a harvester on farmland in Ukraine leased by Mriya Agro

It could be a picture of rural prosperity: Workers steer grumbling trucks and red harvesters as high as houses, churning 1,400 acres of snowy farmland into thick, black mud. The early winter scene, about 250 miles west of Kiev, instead illustrates Ukraine’s failure to drag its most historically significant industry into the 21st century.

Mriya Agro Holding Plc, the company hauling away the last of the sugar beet crop on the land, owns none of the wide-open field, a patchwork of 270 individual plots that it leases for three years to five years each. The landowners, who were bequeathed the property after the fall of communism, aren’t allowed to sell,

You're reading a preview, sign up to read more.

More from Bloomberg Businessweek

Bloomberg Businessweek3 min read
When Sleeping Is the Only Way Rough
The Supreme Court may review a lawsuit that’s made cities change how they treat the homeless
Bloomberg Businessweek1 min read
Phoebe Waller-bridge
Her two shows, Fleabag and Killing Eve, were nominated for 20 Emmy Awards, with Fleabag winning six and Killing Eve one. Fleabag began life as a one-woman play that opened at the Edinburgh Festival Fringe in 2013. The BBC asked Waller-Bridge to adap
Bloomberg Businessweek5 min read
Rethinking the Soros Fortune
In November, Dawn Fitzpatrick, chief investment officer of Soros Fund Management, was being interviewed on a finance podcast called Capital Allocators. At the top of the program, the host sent out an appeal: “Dawn contends that Soros has a uniquely a