This has been a fast moving day in Ukraine. Everyone is watching the situation in Sevastopol with Russian saber rattling. Meanwhile the politicians in Kiev are trying to put together an interim government. The US has made at least one specific commitment of financial assistance.
Ukraine Protesters Support Premier Candidate as U.S. Signals Aid
Ukrainian protesters in Kiev backed Arseniy Yatsenyuk to head an interim cabinet and help avert a default after the nation’s bloodiest events since World War II as the U.S. signaled a $1 billion rescue is in the works.
Lawmakers are set to approve Yatsenyuk’s candidacy tomorrow before a parliamentary ballot in four months, acting President Oleksandr Turchynov said today in front of the thousands gathered on Independence Square, the site of a three-month uprising that culminated in last week’s overthrow of former leader Viktor Yanukovych.
The U.S. is planning a $1 billion loan guarantee for Ukraine and is also considering direct aid to the country, Secretary of State John Kerry told reporters at a roundtable discussion today.
Ukraine is very close to a state of economic collapse. Getting the economy back on its feet is going to be critically important. Russia has suspended its $15B bailout package and the IMF is waiting for an official government before it will open negotiations which are expected to have austerity strings attached. This offer from the Obama administration can be viewed as an important international vote of confidence.