Ukraine PM vows stability after bailout

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Pro-European integration protestors attend a rally in Maidan Nezalezhnosti or Independence Square in central Kiev on December 17, 2013. Picture: Alexander Demianchuk

Kiev -

Ukraine's prime minister says that a bailout deal reached with Russia will guarantee financial stability in the economically troubled country.

Russian President Vladimir Putin on Tuesday pledged to buy $15 billion worth of Ukrainian government bonds and sharply cut the price of natural gas, moving to bail out his embattled Ukrainian counterpart after weeks of street protests.

The Ukrainian economy has been on the verge of default and Yanukovych has been lobbying Russia and the European Union for financial help. Azarov told a Wednesday Cabinet meeting that the Moscow agreements guarantee “people's confidence in a stable life,” according to the government website.

The deal with Moscow, however, did little to appease the protesters calling on Yanukovych to turn away from Russia and renew ties with the EU. - Sapa-AP

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