US, IMF 'stand ready' to help Ukraine rebuild ailing economy
Published on Feb 23, 2014 3:33 PM
SYDNEY (AFP) - The United States and the International Monetary Fund offered on Sunday to assist Ukraine in rebuilding its battered economy following devastating protests that have plunged the country into its worst crisis since independence.
Fears that Ukraine's debt-laden economy is facing default have sparked panic on markets, with bond yields rising sharply and the hryvnia currency losing a tenth of its value in the span of a few weeks.
US Treasury Secretary Jacob Lew said he held talks with Russian Finance Minister Anton Siluanov at the G20 meeting in Sydney after the Ukraine parliament voted Saturday to oust President Viktor Yanukovych, ending a week of brutal violence in the capital Kiev.
"The United States, working with other countries, stands ready to assist Ukraine with its efforts to return to a path of democracy, stability and growth," Mr Lew told a press conference.
To continue reading, log in if you are a subscriber
Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!