Ukraine needs $10 billion in Western assistance to prevent default - Poroshenko administration

14:45, 15.12.2014 1 min read

Ukraine needs international financial assistance in an amount of some $10 billion, Valeriy Chaly, deputy head of the Ukrainian presidential administration, said.

"I would not speak about specific amounts [of financial assistance], they now remain to be determined, but it will be about a dozen billion dollars. Otherwise it will be difficult to resolve the problem," Chaly told a briefing in Kyiv on Monday.

Negotiations on this matter are currently being conducted with the IMF, the U.S. and the EU, he said. "It's not that they don't want to provide financial assistance, it's about analyzing the needed amounts," the official said.

Chaly said Western financial assistance is needed to conduct important reforms and prevent a default.

Chaly said "a political decision on the international financial assistance to Ukraine now exists and the financial and economic aspects are now being determined."