
Ukraine's new PM: a deal-maker as head of wartime government
"It is a great honor for me to lead the Government of Ukraine today," Svyrydenko said on social media, adding that "war leaves no room for delay. We must act swiftly and decisively".
Svyrydenko led fraught negotiations around a minerals and investment agreement with the United States that nearly derailed ties between Kyiv and its most important military ally.
The deal was central to a disastrous televised spat between Zelensky and US President Donald Trump in February 2025.
Not long after, Svyrydenko travelled to Washington to finalise an agreement that many Ukrainians hoped would placate Trump by giving him a sellable victory and ensure more critical US support for Kyiv.
"She was the key and the only person leading these negotiations. She managed to prevent them from unravelling," said Tymofiy Mylovanov, a former economy minister who worked with Svyrydenko.
She earned the respect of US partners during the negotiations, according to several analysts, including Mylovanov, who described Svyrydenko as preferring a level-headed, non-confrontational approach in politics.
'Wartime economy minister'
Svyrydenko is also viewed as loyal to the powerful head of Zelensky's office, Andriy Yermak, with some seeing her nomination as another attempt from the presidency to consolidate power.
She is taking the helm at a precarious moment, in a country exhausted by more than three years of war and dependent on its foreign allies for survival.
The role of prime minister does not typically include a say on military strategy or frontline operations, where Zelensky and his military chiefs call the shots.
Yet Svyrydenko is central to a young generation of Ukrainian leaders, like Zelensky, who have guided the country through the Russian invasion and contrast starkly with the Soviet-styled elites that dominate in Russia.
She was not yet 30 when the Kremlin helped foment a violent overthrow of authorities in eastern Ukraine, as popular protests demanded that Kyiv pursue closer integration with Europe.
And her native region of Chernigiv, which borders Russia and its war ally Belarus, was briefly occupied at the start of the invasion launched in February 2022.
Despite being ravaged and facing a potentially crippling recession, she kept Ukraine's economy afloat during the war, including by pushing for some businesses to have exemptions from key staff being mobilised into the armed forces.
Keeping businesses going will be "her legacy as the wartime economy minister," Andy Hunder, president of the American Chamber of Commerce in Ukraine, told AFP.
'Emblematic'
"Svyrydenko is emblematic of the Ukrainian people's resilience," then-US Commerce Secretary Gina Raimondo wrote of her in Time Magazine in 2023.
Svyrydenko, who mostly avoids the press, moved through the ranks of government quickly after graduating with honours from the National University of Trade and Economics and a brief spell in the private sector.
She held a variety of posts in her native Chernigiv region before being appointed by presidential decree as deputy head of the president's office in 2020.
Less than a year later, she became deputy prime minister and economy minister.
Svyrydenko has said that civil service was a part of her life since childhood, as both her parents worked in government.
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France 24
11 minutes ago
- France 24
'Showcase killings': Zelensky slams Russia's latest deadly strikes on Kyiv
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France 24
an hour ago
- France 24
Russia strikes kill six in Kyiv, Moscow says captured key town
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Euronews
3 hours ago
- Euronews
Fed's Powell leaves interest rates unchanged despite Trump demands
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There were some signs of splits in the Fed's ranks: Governors Christopher Waller and Michelle Bowman voted to reduce borrowing costs, while nine officials, including Powell, opted to keep rates steady. It is the first time in more than three decades that two of the seven Washington-based governors have dissented. One official, Governor Adriana Kugler, was absent and didn't vote. The choice to hold off on a rate cut will almost certainly result in further conflict between the Fed and White House, as Trump has repeatedly demanded that the central bank reduce borrowing costs as part of his effort to assert control over one of the few remaining independent federal agencies. Future rate trajectory Powell has in the past signalled during a news conference that a rate move might be on the table for an upcoming meeting, but he gave no such hints this time. 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Earlier Wednesday, the government said the economy expanded at a healthy 3% annual rate in the second quarter, though that figure followed a negative reading for the first three months of the year, when the economy shrank 0.5% at an annual rate. Most economists averaged the two figures to get a growth rate of about 1.2% for the first half of this year. Supporters of faster cuts The dissents from Waller and Bowman likely reflect jockeying to replace Powell, whose term ends in May 2026. Waller in particular has been mentioned as a potential future Fed chair. Michael Feroli, an economist at JPMorgan Chase, said in a note to clients this week if the pair were to dissent, 'it would say more about auditioning for the Fed chair appointment than about economic conditions". Bowman, meanwhile, last dissented in September 2024, when the Fed cut its key rate by a half-point. She said she preferred a quarter point cut instead, and cited the fact that inflation was still above 2.5% as a reason for caution. Waller said earlier this month that he favoured cutting rates, but for very different reasons than Trump has cited: Waller thinks that growth and hiring are slowing, and that the Fed should reduce borrowing costs to forestall a rise in unemployment. There are other camps on the Fed's 19-member rate-setting committee — only 12 of the 19 actually vote on rate decisions. In June, seven members signalled that they supported leaving rates unchanged through the end of this year, while two suggested they preferred a single rate cut. The other half supported more reductions, with eight officials backing two cuts, and two, widely thought to be Waller and Bowman, supporting three reductions. 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