News / Europe

Western Nations Scramble to Stabilize Ukraine

Western World Scrambles to Stabilize Ukrainei
X
February 25, 2014
Western countries are joining forces to put together a financial aid package to help pull Ukraine out of its political and economic crisis. Efforts come as Russia suspends its $15 billion loan to the country after the departure of its embattled leader Viktor Yanukovych. Zlatica Hoke reports.

Western World Scrambles To Stabilize Ukraine

TEXT SIZE - +
Zlatica Hoke
— Western countries are joining forces to put together a financial aid package to help pull Ukraine out of its political and economic crisis. The efforts come as Russia suspends its $15 billion loan to the country after the departure of its embattled leader Viktor Yanukovych. The United States is among western countries that have promised urgent aid to Ukraine.
 
Russian Economic Development Minister Alexei Ulyukayev said Monday that the next $2 billion bailout installment for Ukraine is in "standby status," and that Moscow will decide whether to release it after Ukraine selects a new government.
 
"It depends on who are, will be, the responsible figures, because it's a very big amount of money. When IMF or some other responsible institution provides support, it asks for the conditions and asks about the partners, so the same will be for us," said Ulyukayev.
 
Ukraine's ambassador to the United Nations, Yuriy Sergeyev, said Monday that his country is worse off than its previous government claimed, and that it needs financial aid from the European Union in addition to the Russian loan.
 
"First of all, to recover form this crisis immediately, then to do all of our best to create the atmosphere which could encourage returning of the international investors, domestic investors. The second: we have to re-launch our negotiations with the IMF, which were stopped by the previous government,” said Sergeyev.
 
Ukraine's interim leaders say the country needs $35 billion over the next two years to avert default. The international community is concerned that cash-poor Ukraine could disintegrate without urgent assistance.  Britain's Foreign Minister William Hague raised the issue Monday in Parliament.
 
"Ukraine's financial situation is very serious, and without outside assistance may not be sustainable. An economic crisis in Ukraine would be a grave threat to the country's stability and have damaging wider consequences," said Hague.
 
France's Foreign Minister Laurent Fabius said an international donors' conference is being discussed. 
 
In Washington, White House spokesman Jay Carney said the United States will work with international partners to help stabilize Ukraine's economy.
 
"This support can complement an IMF program by helping to make reforms easier and by putting Ukraine in a position to invest more in health and education to help develop Ukraine's human capital and strengthen its social safety net. So, we would be working with international partners to complement an IMF program," said Carney.
 
European Union foreign policy chief Catherine Ashton was in Kyiv Monday to discuss urgent measures to prop up Ukraine's ailing economy. The EU has called for the formation of a new inclusive government and for democratic elections in Ukraine.

You May Like

Wikipedia Proves Useful for Tracking Flu

Technique gave better results than Center for Disease Control (CDC) and Google’s Flu Trends More

Turkish Law Gives Spy Agency Controversial Powers

Parliament approves legislation to bolster powers of intelligence service, which government claims is necessary to modernize and deal with new threats Turkey faces More

Video Face of American Farmer Changing

Average American farmer is now 58 years old, and farmers 65 and older are the fastest growing segment of the population More

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
Face of American Farmer is Changingi
X
Mike Osborne
April 18, 2014
The average American farmer is now 58 years old, and farmers 65 and older are the fastest growing segment of the population. It’s a troubling trend signaling big changes ahead for American agriculture as aging farmers retire. Reporter Mike Osborne says a new report from the U.S. Census Bureau is suggesting what some of those changes might look like... and why they might not be so troubling.
Video

Video Face of American Farmer is Changing

The average American farmer is now 58 years old, and farmers 65 and older are the fastest growing segment of the population. It’s a troubling trend signaling big changes ahead for American agriculture as aging farmers retire. Reporter Mike Osborne says a new report from the U.S. Census Bureau is suggesting what some of those changes might look like... and why they might not be so troubling.
Video

Video Donetsk Governor: Ukraine Military Assault 'Delicate But Necessary'

Around a dozen state buildings in eastern Ukraine remain in the hands of pro-Russian protesters who are demanding a referendum on self-rule. The governor of the whole Donetsk region is among those forced out by the protesters. He spoke to VOA's Henry Ridgwell from his temporary new office in Donetsk city.
Video

Video Drones May Soon Send Data From High Seas

Drones are usually associated with unmanned flying vehicles, but autonomous watercraft are also becoming useful tools for jobs ranging from scientific exploration to law enforcement to searching for a missing airliner in the Indian Ocean. VOA’s George Putic reports on sea-faring drones.
Video

Video New Earth-Size Planet Found

Not too big, not too small. Not too hot, not too cold. A newly discovered planet looks just right for life as we know it, according to an international group of astronomers. VOA’s Steve Baragona has more.
Video

Video Copts in Diaspora Worry About Future in Egypt

Around 10 percent of Egypt’s population belong to the Coptic faith, making them the largest Christian minority in the Middle East. But they have become targets of violence since the revolution three years ago. With elections scheduled for May and the struggle between the Egyptian military and Islamists continuing, many Copts abroad are deeply worried about the future of their ancient church. VOA religion correspondent Jerome Socolovsky visited a Coptic church outside Washington DC.
Video

Video Critics Say Venezuelan Protests Test Limits of Military's Support

During the two months of deadly anti-government protests that have rocked the oil-rich nation of Venezuela, President Nicolas Maduro has accused the opposition of trying to initiate a coup. Though a small number of military officers have been arrested for allegedly plotting against the government, VOA’s Brian Padden reports the leadership of the armed forces continues to support the president, at least for now.
Video

Video More Millenials Unplug to Embrace Board Games

A big new trend in the U.S. toy industry has more consumers switching off their high-tech gadgets to play with classic toys, like board games. This is especially true among the so-called millenial generation - those born in the 1980's and 90's. Elizabeth Lee has more from an unusual café in Los Angeles, where the new trend is popular and business is booming.
Video

Video Google Buys Drone Company

In its latest purchase of high-tech companies, Google has acquired a manufacturer of solar-powered drones that can stay in the air almost indefinitely, relaying broadband Internet connection to remote areas. It is seen as yet another step in the U.S. based Web giant’s bid to bring Internet to the whole world. VOA’s George Putic reports.
AppleAndroid