Ukraine: PM and government step down

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Ukraine: PM and government step down

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Ukrainian President, Viktor Yanukovich, has accepted the resignation of Prime Minister Mykola Azarov and his government.

They will, however, remain in an interim capacity.

During his two and a half years in office, the Prime Minister tried with limited success to revive the indebted economy.

He was also involved in tough but ultimately unsuccessful negotiations with Russia to try to bring down the price of strategic supplies such as natural gas.

The government says these are way above market price which represents a huge drain on the economy.

President Yanukovich has the option of re-appointing Azarov and individual ministers if he so chooses, but it is believed that he will instead replace him with central bank chief Serhiy Arbuzov.