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US, IMF 'stand ready' to help Ukraine rebuild ailing economy

Published on Feb 23, 2014 3:33 PM
 
Anti-government protesters react on the grounds of the Mezhyhirya residence of Ukraine's President Viktor Yanukovich in the village Novi Petrivtsi, outside Kiev on Feb 22, 2014. 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. -- PHOTO: REUTERS

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.

 
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