Ukrainian President Viktor Yanukovych Secures Coalition, Approves New PM

Ukrainian President Viktor Yanukovych has secured a coalition consisting of members of the Party of Regions, the Communist Party and his Lytvyn bloc, improving the possibility that the International Monetary Fund would resume lending to the country.

The IMF had suspended part of a $16.4 billion loan designate for the Ukraine until the country put into place economic reforms. With the new coalition now in place those reforms could be implemented.

In addition to the creation of a coalition Yanukovych now has a prime minister as former Finance Minister Mykola Azarov was approved by parliament to fill the vacancy. Azarov has said his priority would be to push through a realistic budget for 2010, something that could solve some of the economic problems the country is currently facing.

Azarov addressed those economic problems saying his goal was to “eliminate the financial problems created by the previous government.”

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