27/02/14 15:47 CET
| updated xx mn ago
| updated at xx
Ukraine’s currency, the hryvnia, fell to a new record low against the dollar on Thursday.
It has been falling in value for weeks due to the political and economic uncertainty in the country.
But the decline accelerated after parliament stripped President Viktor Yanukovych of his powers on Saturday.
Ukraine’s central bank said it was not going to buy the hryvnia to support it – anyway it is running out of foreign currency reserves to do that.
Economists believe devaluation is justified given the country’s economic circumstances.
Ukraine’s new prime minister Arseniy Yatsenyuk said securing a loan agreement with the International Monetary fund is vital for the country to stabilise the hryvnia.
He told parliament: “We need immediately to sign an agreement with the IMF. As soon as a deal on an IMF programme has been signed, money will come for our reserves and we will be able to stabilise the exchange rate.”
IMF visit sought
Ukraine’s new finance minister said on Thursday he hoped an International Monetary Fund mission would visit Ukraine next week to work on a new aid package of at least $15 billion (10.96 billion euros) for the former Soviet republic.
“Today we requested the IMF send a mission and we hope that it will be here next week,” the minister, Oleksander Shlapak, was quoted as saying by Interfax news agency.
“It will be a new programme. We will be asking for at least $15 billion and then it will become clear,” he added.
- 1To Russia with cash: Chinese tourists offset fall in Western visitors
- 2French and German finance chiefs discuss economic weakness and eurozone recovery
- 3Connecting Europe’s #Digitalsinglemarket
- 4International Energy Agency says oil glut is poised to worsen
- 5TUI shifts destination focus over security concerns in Turkey and North Africa
- 1Peugeot Citroen compensates Iran for sanctions prompted pull out
- 2European shares tumble with banks the main focus of concern
- 3Connecting Europe’s #Digitalsinglemarket
- 4To Russia with cash: Chinese tourists offset fall in Western visitors
- 5International Energy Agency says oil glut is poised to worsen
- 1euronews live TV - News | euronews : the latest international news as video on demand
- 2International news | euronews, latest international news
- 3Madrid to appeal Catalan road to independence from Spain
- 4Hope vs harsh reality: challenges to global education goals in the 21st century
- 5Partnering to grow Europe
- 6Extras : euronews : the latest international news as video on demand
- 7Turkey: Explosion hits Istanbul’s main tourist district
- 8Thousands in Bucharest blame corruption for Friday’s nightclub blaze
- 9Jorge Lorenzo clinches his third MotoGP title in Valencia
- 10Macedonian Postcards: The Mavrovo National Park
- 11Moldova: protesters storm Parliament
- 12Paris: “I would rather see my brother in prison than in a cemetery”
- 13Special Reports : euronews : the latest international news as video on demand
- 14Benzema questioned in French sex tape case
- 15Merroussis clinches the 33rd Athens Authentic Marathon
- 16latest Learning World - All Programmes | euronews : the latest international news as video on demand
- 17Norway sends Syrian refugees back to Russia
- 18Brussels remains on high alert: ‘multiple operations underway’ across Belgium
- 19Business news and finance news | euronews: international economic and finance news
- 20International breaking news | euronews online world breaking news in video
latest economy news
French and German finance chiefs discuss economic weakness and eurozone recovery
To Russia with cash: Chinese tourists offset fall in Western visitors
International Energy Agency says oil glut is poised to worsen
European shares tumble with banks the main focus of concern
French central bank forecasts first-quarter growth improving to 0.4%
Wires > Business
- 16:01 CET U.S. shale oil output to double by 2035 – BP
- 15:42 CET Japan’s Asahi confirms bid for SABMiller’s Peroni, Grolsch brands
- 15:39 CET Daimler, VW recall 1.5 million vehicles in U.S. over airbag worries
- 15:33 CET Leading tech firm ARM says Brexit would slow it down
- 15:29 CET Time Warner revenue misses, shares slide
- 15:23 CET Gamesa, Siemens negotiating final terms of wind merger – sources
- 15:18 CET Tesco takes full control of Harris+Hoole coffee chain
- 15:11 CET Shock slump across European industry bodes ill for 2016