Ukraine to Seek USD 35 B Western Loan

World | February 24, 2014, Monday // 15:22| Views: 2200 | Comments: 1
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Bulgaria: Ukraine to Seek USD 35 B Western Loan Photo by EPA/BGNES

Ukraine will request financial assistance from the West, which could amount to USD 35 B.

The country's interim Finance Minister Yuriy Kolobov urged the United States and the European Union to decide on a financial rescue plan within the next 2 weeks, RIA Novosti reports.

"The planned volume of macroeconomic assistance for Ukraine could amount to some USD 35 B through 2015", Kolobov said.

The aid will be crucial for Ukraine, which is in a dire financial state. Since the latest events and the ousting of President Viktor Yanukovych, Russia has threatened to freeze the payment of financial tranches towards Ukraine, amounting to a total of USD 15 B, agreed in December.

On Friday, the rating agency Standard & Poor's warned that it expected Ukraine to default on its foreign-currency obligations if Russia delayed its promised loans.

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Tags: Ukraine, Viktor Yanukovych, Yuriy Kolobov, United States, European Union
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#1
George Zheliazkov - 24 Feb 2014 // 19:10:42

That’s where all the reality kicks in…. It’s easy to meddle in countries affaires with catchy seductive dreams like “freedom”, “democracy”, “human rights” and mess up and even topple governments but all of this usually ends up with loss of lives and in ruins. Then it’s time for “democracy” and free market capitalism to take place but realistically this is a very complex and time consuming process.

So get ready Ukraine for many decades of “uncertainty”.

BTW in my opinion you are not getting anything even close to $35 billion! The US and the EU are broke, better ask China….

(just to clarify again, smooth and gradual transition would have been the best solution for the Eastern European and Soviet Union states, China is the right example what should have happened.
All those countries had to work towards democracy with what they had (in a form of economy and government) and achieve a more gradual democracy and free market economies. It would have been better for the entire global economy)