Blue &Yellow: Politics and Economics in Ukraine

BYuT refuses to fund new elections and asks that the decree dissolving the Rada be cancelled. According to BBC Ukraine, the party says that any funding would mean a chance in the state budget and BYuT is not interested in doing so because of the economic crisis. Also, with a pending lawsuit, the date of the election may be moved from 7th of December to a later date. Kyiv Post has a similar article about this situation, but also notes that Tymoshenko is using the arrival of the IMF to argue her case for a postponment.

 Political woes in Ukraine, which faces its third parliamentary poll in as many years, have been compounded by fears that government and banks may not be able to refinance debt as its currency weakens and global lending dries up.

 IMF officials arrived on Wednesday to discuss how it could help cushion the impact of the global financial crisis. It has also been approached for aid by Iceland, Hungary and Serbia."We have information today that the International Monetary is ready to examine special credits from $3-14 billion to stabilise the financial system," Tymoshenko told a news conference after a cabinet meeting.

"At the same time, the IMF said it finds it very difficult to talk with Ukraine amid all these proposals for an early election.Citing the background of the financial crisis, Tymoshenko offered to accept "any conditions" to persuade the president to call off the election. Her allies have launched court action suspending preparations for the vote.