Elevate your local knowledge
Sign up for the iNFOnews newsletter today!
Ukraine envoy to Canada stresses need for bailout as Russia pressures on gas
OTTAWA – The Ukrainian ambassador to Canada says his country urgently needs an international financial bailout to stave off a looming crisis.
Vadym Prystaiko says his country is being forced to make serious cuts to cope with the economic fallout from Russia’s annexation of the Crimean Peninsula.
In a speech in Ottawa, Prystaiko says 24,000 public servants will have to be laid off in the coming month ahead of a scheduled presidential election May 25.
The Ukraine economy is near collapse and is dependent on a massive international aid package.
Russia ratcheted up the pressure today by threatening to raise the price of its natural gas supply, and calling on Kyiv to pay its outstanding energy bill, about $2.2 billion.
Canada has pledged $220 million towards a plan by the International Monetary Fund for up to $18 billion in loans to Ukraine.
News from © The Canadian Press, . All rights reserved.
This material may not be published, broadcast, rewritten or redistributed.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Join the Conversation!
Want to share your thoughts, add context, or connect with others in your community?
You must be logged in to post a comment.
