23 février 2014 ~ 0 Commentaire

2014-02-23 Economical Review: Ukraine questions

Ukraine: From the orange revolution to the bloody one

In 1991 Ukraine announced its independence on the 24th august. The soviet is rejected with a referendum accepted by 90.32% of the voters. However the “Russian friend” is not dead and in 1997 the Russian federation and the Ukrainian government signed a friendship agreement. After several years of indecision a revolution is leading by Viktor Ioutchenko and Ioula Timotchenko in 2004 and Viktor Ioutchtchenko is elected by the country.

However Iouchtchenko cannot stem the catastrophic economic situation of the Ukrainian nation. Ukraine is stifled because of its need in gas from Russia. The economical balance of the country is largely in deficit. The external debt is skyrocketing and the pledge from Iouchtchenko is quickly destroyed by the hard cold truth of the rising debt.

In 2010 the pro-russian president Viktor Ianoukovitch is elected (he beats Ioulia Timochenko on presidential election). Ianoukovitch renounced to the adhesion of Ukraine to NATO (North Atlantic Treaty Organization) and try to bring closer its country with Russia on the Belarus model.

The only problem with this policy resides in the population reaction which did not agreed entirely with the east turn of the new president. Because of this opposition the government chooses the tough way and imprisoned Ioulia Timochenko for embezzlement in 2011 for 7 year. This act is seen as a violation of democracy for numerous countries and many personlaities denounced political issues of this trial.

Finally after three years of arm wrestling the president Ianoukovitch decline in November at the last moment a proposal from the European Union and choose to focus its attention with Moscow in 2013. On December 1st 2013 around 500.000 demonstrators occupied the Independence place. On the 17th December Ianoukovitch accepted a credit from Moscow of 15 Mds $ and a decrease of 30% of the gas price from Gazprom.

In January 16th the government reinforces the law against demonstrators and the 19th 200.000 demonstrators are opposed to police force in Maidan. After several weeks of demonstration tens of dead people Ianoukovitch resins and the opposing leader Ioulia Timotchenko was free.

However the situation of Ukraine is still the same on the financial side. Moscow has canceled its credit to Ukraine and all its advantages for gas supply. For most of the financial planet Ukraine has to ask the help from IMF (International Monetary Fund), but even with the external help the situation will be very tough for the next decade.

Change Reserve


Change Reserve

Commercial Balance


Commercial Balance

Exportation Ukraine


Exportation Balance

Importation Ukraine

Importation Balance

External Debt Ukraine


External Debt

GDP Growth

GDP Growth


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