X Close

World

Published: Friday February 28, 2014 MYT 11:35:02 PM
Updated: Friday February 28, 2014 MYT 11:35:51 PM

EU team headed to Ukraine to examine financial needs

BRUSSELS (Reuters) - A small team of financial experts from the European Commission will travel to Ukraine on Monday to conduct a detailed assessment of how much financial assistance the country needs, EU officials said on Friday.

The team from Commission's directorate-general for economic and financial affairs is expected to meet Ukrainian finance ministry and central bank officials to determine more precisely what the country's budget shortfall and capital needs are.

"The first thing we need to do is to understand precisely how much they need," said a senior official briefed on the visit. "There are a lot of numbers being thrown around and it isn't helping to clarify the situation."

Ukraine has said it needs $35 billion over the next two years. But its short-term requirements are much less and estimated to be around $4 billion, according to EU officials.

The International Monetary Fund is also due to send a team of inspectors to Ukraine to assess its longer-term needs.

(Reporting by Justyna Pawlak, Jan Strupczewski, Adrian Croft and Luke Baker; Editing by Luke Baker)

advertisement

  1. Lorry slams into cars, catches fire at Sunway toll booth on Kesas Highway
  2. MH17: Najib's 'silent diplomatic' approach worked, says NYT
  3. MH17: Opposition leaders laud Najib's quiet diplomacy
  4. Kiki fined RM5,000 for causing mischief and damage
  5. MH17: Malaysia receives black boxes from Ukrainian rebels
  6. MH17: Black boxes to be handed over to Malaysia, says Najib
  7. Why did these children have to die?
  8. MH17: Russian Ambassador to Malaysia speaks up
  9. MH17: Dutch father - 'Thank you for killing my daughter'
  10. Iconic A&W outlet in PJ to be demolished

advertisement

advertisement