Ukraine hoping for $35 billion in financial assistance

[dipsydoodle]

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

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Ukraine's credit rating is CCC : likely to default on current debt.

[democratisphere]

1. Why sure, the USA can borrow billions more from China and loan it to the Ukraine;.......

then the Ukraine can default. Putting out one financial fire after another.

[Berlin Expat]

2. I read about

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]

4. Russia offer was just to get them over the next 7 months

or so.

[cprise]

3. Wonder how much will be for buying US arms. n/t

[another_liberal]

6. Touche'

You know how to cut to the chase, cprise!

[cprise]

9. Why waste time? They're going to cut to it, too.

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]

13. The mass violence was carefully timed . . .

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]

17. Yep! nt.

[dipsydoodle]

7. In the case of Greece that was French and German arms.

Greece was prohibited from lowering its defence budget.

[cprise]

10. I prefer to look to Poland for parallels in this case

Ukranian fascists want to be the bees knees of NATO "investment".

[Android3.14]

5. Who needs schools and roads her?

Let's run up our credit card for people on the other side of the planet.

[another_liberal]

14. Undemocratic, corrupt and unreliable people . . .

At that.

[Vinnie From Indy]

8. Over Two MILLION Americans are BEGGING and PLEADING for 6 billion

to pay for unemployment extensions. By November it will be FIVE million laid off, desperate Americans.

[another_liberal]

15. But Ukraine needs a missile defense system . . .

A hugely expensive, largely ineffective monster of missile defense system. Want to bet they don't get one?

[jsr]

18. +1

[dipsydoodle]

11. For the benefit of doubt

They need that in actual foreign currency : not goods or contracts.

[ctsnowman]

12. Freedom isn't free.

[Demeter]

16. Ukraine would have more freedom and more money by going Crowd-Sourcing

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]

19. Analysis here : What economic help for Ukraine?

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]

20. That would buy a lot of rubber tires to burn in the town square

Hopefully they have started cleaning up the mess.

[LuckyLib]

21. Switzerland and the Cayman Islands are

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]

22. Such people do not invest where repayment is unlikely

and neither I would suggest would you.