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A future in progress in Ukraine

Monday, February 24, 2014 - 01:56

Feb. 24 - While Ukraine's political future is uncertain -- it is still in desperate need of funding as world powers weigh in offering promises of help. Deborah Lutterbeck reports.

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As they mourn the past in Ukraine, they await a new future as world powers weigh-in Monday. European Union foreign policy chief Catherine Ashton is in Kiev meeting with opposition leaders to discuss measures to shore up the ailing economy. With former President Viktor Yanukovich on the run, it's unclear what shape a future government will take, but there's little doubt about its financial needs. Britain Foreign Secretary William Hague will head to Washington for talks on Ukraine (SOUNDBITE) (English) BRITISH FOREIGN SECRETARY, WILLIAM HAGUE, SAYING: "Ukraine's financial situation is very serious, and without outside assistance, may not be sustainable." The Finance Ministry in Ukraine says it needs $35 billion in foreign assistance over the next two years and appealed for urgent aid in the coming weeks. White House spokesman Jay Carney says the U.S. will offer help. (SOUNDBITE) (English) WHITE HOUSE SPOKESMAN JAY CARNEY , SAYING: "The United States, working with partners around the world stands ready to supply support for Ukraine as it takes the reforms it needs to, get back to economic stability. This support can compliment an IMF program." The unrest began last fall when Yanukovich shunned a European trade deal in favor of an economic package from Russia. Now Russian Economic Development minister Alexei Ulyukaev says the next two billion installment is in "standby status." (SOUNDBITE) (English) RUSSIAN ECONOMIC DEVELOPMENT MINISTER ALEXEI ULYUKAEV SAYING: "Well, it depends on who are will be the responsible figures, because it's a very big amount of money. When IMF or other responsible institution provide support, it asks for the conditions and asks about the partners, so the same will do us." So far Russia has provided $3 billion in economic aid to Ukraine out of $15 billion pledged.

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A future in progress in Ukraine

Monday, February 24, 2014 - 01:56