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Ukraine crisis: Fears of financial collapse

24 February 2014 Last updated at 16:26 GMT

Many economists believe Ukraine is heading for financial collapse, with almost a quarter of its estimated $73bn due for repayment over the next 18 months.

It had been relying on Russia to buy some of its debt, but those bond purchases have been shelved amid tension between the neighbours.

On Friday, Standard & Poor's downgraded Ukraine to CCC - just two notches above default.

Senior economist from IHS Global Insight Lilit Gevorgyan told BBC World that Ukraine was in desperate need of financing: "It doesn't look good for Ukraine unless they manage to get that foreign currency as soon as possible."

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