As prices of Ukraine’s chief exports continue to fall, uncertainty has arisen as to whether the Ukrainian government can continue to meet the stipulations of the International Monetary Fund’s (IMF) next installment of a US$16.4 billion loan.
Strapped for cash, the Ukrainian government has sent envoys to the European Union, the United States, Russia, China, and Japan requesting a line of credit. While the U.S. State Department is reviewing reports, it seems Russia is more than willing to sign a credit agreement – causing a fierce debate among top officials in Kiev.
Ukrainian Prime Minister Yulia Tymoshenko is reportedly willing to accept Moscow’s outstretched hand, but President Viktor Yushchenko is decidedly against the deal. “It’s a dangerous policy and poses a threat to Ukraine’s national interest,” he said.