Blue &Yellow: Politics and Economics in Ukraine

Ukraine is close to a deal with the IMF, meanwhile the country has taken action to prevent a collapse of its banking system. According to a report from Radio Free Europe, Ukraine is being impacted by the global crisis.  

Citing a "psychological factor," the National Bank of Ukraine (NBU) this week decided to impose limits on lending, foreign-currency trade, and early withdrawals of certain deposits. 

The decision, taken October 13, came after National Bank depositors -- unnerved by mounting inflation and a weakening currency -- withdrew more than $1.3 billion from their accounts in just under two weeks. It's hoped the steps will prevent a full-scale run on the bank by panicking citizens.

Ukrainian President Viktor Yushchenko ordered the creation of a 1-billion-hryvna ($200 million) stabilization fund to support an economy hit hard by the global financial crisis, as his bitter political rivalry with Prime Minister Yulia Tymoshenko dragged on.

Yushchenko told the government to shore up the banking sector, assist the country's key steel and chemical industries, adopt a balanced budget and regulate foreign trade.