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| Ukraine bailout 'sufficient to rebuild credibility' | Ukraine bailout 'sufficient to rebuild credibility' |
| (about 18 hours later) | |
| Ukraine's new finance minister, Natalie Jaresko, has said a proposed bailout package from the International Monetary Fund (IMF) will be "sufficient to rebuild credibility". | Ukraine's new finance minister, Natalie Jaresko, has said a proposed bailout package from the International Monetary Fund (IMF) will be "sufficient to rebuild credibility". |
| Ms Jaresko is at the World Economic Forum in Davos to drum up international support for Ukraine. | Ms Jaresko is at the World Economic Forum in Davos to drum up international support for Ukraine. |
| Speaking to the BBC, she said it would be an "enormous loss for the world" if Ukraine's finances failed to recover. | Speaking to the BBC, she said it would be an "enormous loss for the world" if Ukraine's finances failed to recover. |
| Ukraine has been in a deep recession since the middle of 2012. | Ukraine has been in a deep recession since the middle of 2012. |
| Economists have estimated that there is a $15bn gap in nation's public finances. | Economists have estimated that there is a $15bn gap in nation's public finances. |
| Additionally, the protracted conflict in the east of the country has been intensifying in recent weeks, at a cost of up to $10m per day to the public coffers. | Additionally, the protracted conflict in the east of the country has been intensifying in recent weeks, at a cost of up to $10m per day to the public coffers. |
| On Saturday, at least 20 people were killed and dozens injured in rocket attacks by pro-Russian rebels in the government-held port of Mariupol. | On Saturday, at least 20 people were killed and dozens injured in rocket attacks by pro-Russian rebels in the government-held port of Mariupol. |
| IMF support | IMF support |
| Following a meeting with Ukrainian president Petro Poroshenko in Davos on Wednesday, the head of the IMF, Christine Lagarde, issued a statement that appeared to broadly support the country's request for further financial assistance. | Following a meeting with Ukrainian president Petro Poroshenko in Davos on Wednesday, the head of the IMF, Christine Lagarde, issued a statement that appeared to broadly support the country's request for further financial assistance. |
| "My understanding is the request has been approved," Ms Jaresko told the BBC, adding that the proposed bailout package would "enable us to meet our obligations". | "My understanding is the request has been approved," Ms Jaresko told the BBC, adding that the proposed bailout package would "enable us to meet our obligations". |
| However Ms Jaresko emphasised that a large portion of the package would have to be paid up-front, without the prerequisite of substantial economic reforms. | However Ms Jaresko emphasised that a large portion of the package would have to be paid up-front, without the prerequisite of substantial economic reforms. |
| "I'm sure there will be prior actions that we will have to commit to before the first tranche comes through," she said, "but I expect all the prior actions to be things that we can do in one or two weeks." | "I'm sure there will be prior actions that we will have to commit to before the first tranche comes through," she said, "but I expect all the prior actions to be things that we can do in one or two weeks." |
| Ms Jaresko said there were good investment opportunities in Ukraine and the country was a "perfect base for manufacturing", due to low labour costs and its proximity to the EU. | |
| She added that she was confident of a diplomatic resolution to the bloody conflict with pro-Russian separatists. | She added that she was confident of a diplomatic resolution to the bloody conflict with pro-Russian separatists. |
| "This cannot continue. This is war in the 21st century in the middle of Europe". | "This cannot continue. This is war in the 21st century in the middle of Europe". |