No easy bailout plan for struggling Ukraine

[unhappycamper]

http://www.adn.com/2014/02/25/3344739/no-easy-bailout-plan-for-struggling.html



Anti-Yanukovych protesters detain a suspected thief in Kiev's Independence Square, the epicenter of the country's current unrest, Ukraine, Tuesday, Feb. 25, 2014. The Ukrainian parliament on Tuesday delayed the formation of a new government, reflecting political tensions and economic challenges following the ouster of the Russia-backed president. Parliament speaker Oleksandr Turchinov, who was named Ukraine's interim leader after President Viktor Yanukovych fled the capital, said that a new government should be in place by Thursday, instead of Tuesday, as he had earlier indicated.

No easy bailout plan for struggling Ukraine
By DAVID McHUGH and JUERGEN BAETZ
The Associated Press
February 25, 2014 Updated 5 minutes ago

KIEV, Ukraine — Ukraine needs money, and fast — in weeks, not months. But bailing out the country of 46 million people will not be a matter of simply writing a big check.

For one, Ukraine has already burned the main international financial rescuer, the International Monetary Fund, by failing to keep to the terms of earlier bailouts from 2008 and 2010.

Now it needs help again, and its economic and financial problems are worse than before.

The currency is sliding, raising concerns that companies that owe money in foreign currency could go bust. Banks are fragile. A rescue with outside lenders can't be agreed until there's a government. And Russia could make things worse by demanding on-time payment for natural gas supplies or withdrawing a recently granted break on the price.

[dipsydoodle]

1. It was previous issues with Ukraine which caused the IMF to change its rules for all

Now if preagreed conditions on which funding is provided are not met funding ceases.

[pipoman]

2. The sad part of this is the result of corruption on

the ordinary people of Ukraine. This type of monetary problems are what lead to all kinds of bad social problems there after the fall of the Soviet Union ranging from famine to child victimization.