Ukraine Pledges to Protect Bank Deposits as Kiev Rally Called

“Ukraine is weighing measures to stem cash withdrawals after as much as 7 percent of deposits were taken from banks during last week’s bloody uprising, underscoring the need for action to fend off a default.  Withdrawals peaked with as much as 30 billion hryvnias ($3.1 billion) Feb. 18-20 as police and anti-government demonstrators fought in the center of Kiev, Natsionalnyi Bank Ukrainy Governor Stepan Kubiv, 51, said in his first interview since being appointed Feb. 24.  The interim administration is trying to secure as much as $35 billion in financial aid.  The IMF will probably send a team to Ukraine as soon as the country seeks financial aid, Managing Director Christine Lagarde said.”

http://www.businessweek.com/printer/articles/686437?type=bloomberg

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