President of Ukraine Volodymyr Zelenskyy has signed the law on the reform of the Assets Tracing and Management Agency (ARMA), a critical step in Ukraine’s broader strategy to improve transparency and accountability in public finance. The law, which was adopted by the Verkhovna Rada on June 18, aims to enhance the agency’s capabilities to trace and manage state assets effectively. This reform is part of Ukraine’s ongoing efforts to combat corruption and ensure efficient use of public resources.
The Assets Tracing and Management Agency plays a pivotal role in tracking and managing state assets, including those seized from corrupt officials and illicit activities. The new legislation is expected to streamline operational processes, improve data management systems, and increase the agency’s transparency to the public. By modernizing ARMA, Ukraine seeks to align its financial oversight mechanisms with international standards, thereby fostering greater public trust in governmental institutions.
Commenting on the reform, Zelenskyy emphasized the importance of accountability and the need for a transparent financial system to support Ukraine’s development and stability. The reform also comes at a time when Ukraine is seeking to strengthen its economic resilience, particularly against the backdrop of ongoing geopolitical tensions and the need for sustained international support. With these measures, Ukraine is positioning itself to achieve greater financial integrity and long-term economic stability.