Ukraine's falling redit ratings indicates that its economy is one step away from irreversible downfall, according to deputy head of the ruling Regions Party's faction and former PM Serhiy Tihipko."Tomorrow might be too late," Tigipko added.
As reported, leading international rating agencies started downgrading Ukraine's ratings in the autumn 2013. Russia's financial aid in December held up the process, however, but another aggravation of the political situation, leading to PM Mykola Azarov's resignation on January 28, made the ratings drop again.The intensification of political and economic stress makes default on government debt probable. Ukraine is apparently a few steps away from the point of default. After Azarov resigned, first Deputy PM Serhiy Arbuzov temporarily leads the government. Three options for the new government are being discussed: pro-presidential, a coalition and a so-called non-political government.