Ukraine Today - An Independent Political Review

Yulia Tymoshenko, Ukraine's Prime Minister has called on Ukraine's President, Viktor Yushchenko, to resign . The latest salvo comes as Ukraine's President, former head to the National Bank, faces allegations of involvement in a conspiracy to undermine the value of Ukraine's currency. The prime minister demanded the resignation of Mr Yushchenko, and named Dmytro Firtash, the billionaire and Gazprom partner in the supply of natural gas to Ukraine and Europe, as a co-conspirator in the alleged currency speculation. “I believe the president of this country, who works according to the [principle] that whatever is worse for the country is better for me, who makes money out of the misery of people, must step down,” Tymoshenko said. The latest attack escalates sharply a long-running political feud between Yulia Tymoshenko and Viktor Yushchenko at a time when the country‘s economy is struggling. Ukraine's currency is currently trading at a record low of 9 hryvnya to one US ...

The Ukrainian currency (the hryvnia/grivna) has increased value against the US dollar . Yesterday the hryvnia dropped to a all time low of 10-10.5 . Earlier today it was selling at 8.5-9.0 to the US dollar. Less then six months ago the Ukrainan hryvnia was trading around 4.85 to the US dollar After years of robust economic growth, Ukraine has sunk into a deep recession, pressured by a drastic fall in the exports of steel, the core of the economy. A lack of confidence in the banking system, coupled with constant political turmoil under President Viktor Yushchenko has spurred a sharp devaluation in the national currency The collapse in the value of the local currency has prompted allegations of insider trading and speculative involvement by Ukraine's National Bank and the Office of the president Prime Minister of Ukraine, Yulia Tymoshenko, has indicated that she will call on international organizations to investigate into laundering illegally acquired money if the central bank of U...