Yatsenyuk Needs Year-End Dash to Secure Cash, Steady Ukraine - Bloomberg:
"Ukrainian Prime Minister Arseniy Yatsenyuk has little time to pass a 2015 budget, secure a new aid tranche and negotiate an expansion of a bailout that’s keeping the country afloat as it fights pro-Russian separatists.
Yatsenyuk won confirmation in parliament yesterday after a month of wrangling over forming a government following Oct. 26 snap elections. His five-party coalition will announce a new cabinet that will face a Dec. 2 vote before embarking on a list of tasks it needs to fulfill to get $2.8 billion from a $17-billion International Monetary Fund program.
Ukraine needs the cash to redeem bonds, pay for heating fuel and bolster Ukraine’s currency. The one-month delay in forming a government has deepened a crisis that includes an economic contraction, a 48 percent dive in the hryvnia against the dollar, plunging foreign-exchange reserves and the need for the central bank to support the financial industry."
'via Blog this'
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