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Bloomberg: Ukraine turns to China for cash to duck vote-damaging deal terms

Author: Bloomberg All articles by this author

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Aug. 31, 2012 12:44
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Ukraine wants foreign cash to buoy growth and ease debt payments as Yanukovych’s ruling party gears up for parliamentary elections in October.
Photo by www.hu.edu

Ukraine is broadening its business ties with China as President Viktor Yanukovych sidesteps the conditions traditional partners such as Russia and the European Union are demanding to provide loans and investment.

Currency-swap and loan deals agreed since June may reach as much as $ 9 billion, raising China’s standing in Europe’s biggest iron-ore and corn exporter as the fastest-growing major global economy seeks to secure materials and food supplies.

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