Yanukovych picks Azarov for new term as prime minister (updated)

President Viktor Yanukovych’s nomination of Azarov, 64, has to be approved by the new parliament on Dec. 12 when it holds its first session following a parliamentary election on Oct. 28.

But this seems certain since the ruling Party of the Regions emerged from the election as the biggest single movement in the 450-seat chamber. 

Azarov, 64, has served as Yanukovich’s prime minister since the latter won the presidency in February 2010, and is regarded as a safe pair of hands and a political neutral who is not linked to any specific group of billionaire power-brokers in the country.

Among his first big tasks will be to negotiate a new bailout programme from the International Monetary Fund to help the former Soviet republic repay, or refinance, $9.1 billion owed to foreign creditors next year.

An IMF mission is scheduled to visit Kiev in the second half of January to start discussion on a new stand-by arrangement.

Yanukovich accepted the resignation of Azarov’s government on Dec. 3, a move that had been widely expected after the election, and Azarov has been heading an interim government since then.