Ukraine hoping for $35 billion in financial assistance
Source: Kyiv Post
Ukraine's Finance Ministry and National Bank, along with parliamentary speaker Oleksandr Turchynov, have suggested to the country's international partners - particularly Poland and the United States - that a financial assistance credit of around $35 billion be extended in the next week or two.
"During the last two days we have had consultations and meetings with ambassadors from the EU, USA, other countries, and financial organization over Ukraine getting urgent macro-financial aid," acting Finance Minister Yuriy Kolobov said in a statement issued on Monday, Feb.24.
Kyiv is also proposing that there be a large international donors conference involving the European Union, the United States, Poland, the IMF, other countries, and international financial organizations on the extension of aid for modernization and reforms in Ukraine, as well as achieving an association agreement between the country and the EU.
Read more: http://www.kyivpost.com/content/ukraine/ukraine-hoping-for-35-billion-in-financial-assistance-337483.html
Ukraine's credit rating is CCC : likely to default on current debt.
democratisphere
(17,235 posts)then the Ukraine can default. Putting out one financial fire after another.
Berlin Expat
(950 posts)a week ago, like you pointed out, that Ukraine is in pre-default status. CCC rating. $35 billion is more than what the Russian deal offered, which was $15 billion, if I'm remembering right.
dipsydoodle
(42,239 posts)or so.
cprise
(8,445 posts)another_liberal
(8,821 posts)You know how to cut to the chase, cprise!
cprise
(8,445 posts)Its better than having the realization 6-18 months later when listening to the FRONTLINE narrator mimic the act of talking under one's breath. (This is the way PBS breaks new stories-- when they're no longer news.)
I'm of the opinion that these (still referenced as) 'protesters' lobbing bricks (not rocks) and shooting rifles at the police were counting on the pro-Russian government treating them with kid gloves during the Olympics.
another_liberal
(8,821 posts)No doubt about that.
They did have to hurry a bit at the end: Having to get the Constitution altered, Yanukovich impeached and removed, his majority in the Rada dismissed or run off and the use of police to control unrest in Kiev outlawed, all during Friday night and Saturday. It was that important to beat the Olympic closing ceremony on Sunday (just to be safe, don't you know).
polly7
(20,582 posts)dipsydoodle
(42,239 posts)Greece was prohibited from lowering its defence budget.
cprise
(8,445 posts)Ukranian fascists want to be the bees knees of NATO "investment".
Android3.14
(5,402 posts)Let's run up our credit card for people on the other side of the planet.
another_liberal
(8,821 posts)At that.
Vinnie From Indy
(10,820 posts)to pay for unemployment extensions. By November it will be FIVE million laid off, desperate Americans.
another_liberal
(8,821 posts)A hugely expensive, largely ineffective monster of missile defense system. Want to bet they don't get one?
dipsydoodle
(42,239 posts)They need that in actual foreign currency : not goods or contracts.
ctsnowman
(1,903 posts)Demeter
(85,373 posts)People could decide for themselves if a regime was worthy, or if a people were legitimately in need.
Then the Banksters and Gangsters and Political Tools would be out of luck, and have no toehold.
And the money would have no strings--except they better spend it right, or no one will donate to them again!
dipsydoodle
(42,239 posts)The country's finance ministry has said that $35bn will be needed over the next two years.
The European Union Commissioner for Economic Affairs, Olli Rehn, has said that substantial aid could be on the agenda. US Treasury Secretary Jacob Lew said the best approach would involve "international support through the IMF and bilateral support".
Ukraine does have $15bn lending programme agreed with Russia, and has already received a first instalment - worth one-fifth of the total. But further payments from Russia are unlikely if Ukraine ends up with a government keen to turn towards the EU.
>
But Ukraine's recent experience with the IMF has not been successful.
The previous lending programme, the IMF says, "went off track as the authorities stopped implementing the agreed policies".
In reviewing that episode, the IMF even went so far as to suggest that it might be useful for future IMF lending programmes to have "a mechanism to terminate off-track arrangements".
http://www.bbc.co.uk/news/business-26324686
seveneyes
(4,631 posts)Hopefully they have started cleaning up the mess.
LuckyLib
(6,819 posts)full of billions from Russian oligarchs, including Putin. Ukraine can get in line to collect from the looters in their own country as well as Russia.
dipsydoodle
(42,239 posts)and neither I would suggest would you.