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42 comments on Some predictions on the forthcoming Russian-Ukrainian gas 'crisis'

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tonyw on November 16, 2009 - 8:16am Permalink | Subthread | Comments top

The rating agency Fitch cut Ukraine's credit rating last Thursday and said a delay in IMF funding coupled with a huge budget gap would lead to more instability, a warning underscored by another state firm seeking to restructure its debts.

Prime Minister Yulia Tymoshenko has already warned a delay in the IMF's release of $3.8 billion this month would make life "extremely difficult" for Ukraine and other ministers have said Kiev's ability to make timely payments for Russian gas could be affected.

GDP contracted more than 18 percent in the second quarter compared with a year ago; and bad loans amount to 30 percent of all lending.

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tonyw on November 19, 2009 - 6:09am Permalink | Subthread | Parent | Comments top

Ukrainian President Viktor Yushchenko today urged Russia to change an agreement on supplies of natural gas whose terms he said were too onerous for the Ukrainian economy.

Reuters quoted Yushchenko as saying: "Keeping the contracts unchanged ... will create potential threats specifically to the reliability of supplies of gas to Ukraine and its transit to other European states"

Yesterday his rival Prime Minister Yulia Tymoshenko said that fees for transit needed to double.

So, plenty of politicing between the two main presidential candidates and two months to go.

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42 comments on Some predictions on the forthcoming Russian-Ukrainian gas 'crisis'

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