News Column

U.S, IMF & EU to support Ukraine interim government

February 25, 2014

Both U.S. and IMF offered support to Ukraine to rebuild its economy after months of protests. EU ready to provide €20 billion to Ukraine. Ukraine The United States and the International Monetary Fund (IMF) offered Sunday to assist in rebuilding its struggling economy following devastating protests that have plunged the country into its worst crisis since independence. U.S. Treasury Secretary Jacob Lew and IMF chief Christine Lagarde told journalists following a G20 meeting in Sydney that they have decided to support Ukraine's interim government.  opposition Ukraine Lew said he had spoken to leader Arseniy Yatsenyuk Lew and "the United States, working with other countries, stands ready to assist with its efforts to return to a path of democracy, stability and growth." Ukraine "We hope that the resolution of the violence in will lead to a new inclusive multi party, technocratic government willing to make the economic reforms needed," he said. Lagarde said the IMF would also help Ukraine as an IMF member country. "We will be ready to engage, ready to help with the diagnosis of the current situation," said Lagarde. "Before we of course try to go further and play the catalytic role that the IMF typically plays in such situations." Ukraine. U.N. Secretary-General Ban Ki-moon's spokesperson Martin Nesirky said that Ban has been in contact with all regional and national actors to maintain a peaceful transition in   Ukraine Nesirky also said Ban's senior advisor Robert Serry, a former Netherlands ambassador to Ukraine, had met with Ukraine's interim parliament speaker Oleksandr Turchynov, "to convey the United Nations' solidarity with and to encourage dialogue." "The secretary-general, above all, calls for an inclusive political process that reflects the aspirations of all Ukrainians and preserves Ukraine's unity and territorial integrity," said Nesirky. EU ready to provide €20 bln to Ukraine Ukraine The EU is ready to provide a €20 billion financial aid package to after the new cabinet was formed in the country, said European Parliament Foreign Relations Commission Chairman Elmar Brok on Monday.  The EU said on Sunday that it had been ready to offer "substantial" financial aid to the new government recover from months of political crisis.  Brok told journalists in Kiev that the EU is ready to provide financial assistance to Ukraine, and for the association agreement which was rejected by recently impeached President Viktor Yanukovych in November.  Ukraine. Brok also stated that he came into contact with Germany's Foreign Minister Frank Walter Steinmeier and agreed on supporting the new cabinet in   Opposition Ukraine leader says is bankrupt and its budget looted KIEV, Ukraine opposition Ukraine Arseny Yatsenyuk, head of the Batkivschyna Party, announced Monday that the state budget of had been emptied, bringing the political crisis-racked country to the verge of bankruptcy.  "The state budget has been plundered and the country has been reduced to bankruptcy, according to the latest information I received yesterday from the National Bank of Ukraine," he said during a Conciliatory Council meeting held in the Verkhovna Rada - Ukraine's parliament. Ukraine " has never faced such a terrible financial catastrophe in all of its years of independence," he said, warning that the country must immediately apply to the International Monetary Fund for financial assistance. He said he was given a "frightening" picture of the country's financial situation after meeting with the interim finance minister. Yatsenyuk noted that Ukraine was 10 days late in paying its public officials as the treasury has run out of cash. Yatsenyuk. "We have no time. We must urgently form a government," noted  "Everything depends on how quickly we form a government that will be trusted by the people," he said. Yatsenyuk said he also discussed the issues with the head of the US Treasury.  Russia later announced a US$15 billion bailout for Ukraine's battered economy, but shelved the second part of the planned purchase of Kiev's euro bonds until a new government is formed and Ukraine's economic policy is set. The EU said Monday that it is ready to provide a €20 billion financial aid package to Kiev after a new cabinet is formed.

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Source: Anadolu Agency (Turkey)

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