Only minimal risk of default: Ukraine official

Shymkiv, the former head of Microsoft Ukraine who is now tasked with implementing much-needed administrative, social and economic reforms in the country, said: "We're trying to bring our knowledge and experience to the development of the country. That's the only way we can bring it out of the mis-development of the economy."

Asked about potential conflict between Yatseniuk and Poroshenko, he said: "There aren't conflicts between President and Prime Minister. We have no time to have disputes."

He added that he believes Ukraine is still on the radar of international investors, after discussions in London this week, and argued that it is possible for the country to turn back the tide on rampant corruption.

"Ukraine can still escape a financial meltdown," according to Anders Aslund, senior fellow at the Peterson Institute for International Economics, who wrote in a blog this week that the government, "appears to be prepared to do what it takes" but "needs to cut public expenditures fast."

That may not be fast enough for bond investors. The yield on Ukrainian debt due for repayment in September has shot up to more than 50 percent, suggesting that investors think there is a high chance the country may default on repaying this debt.

"Within the next six months, there will be absolutely different indicators on the economy. Keep us on the list, we'll be back," Shymkiv added.

Correction: This version corrects the job title of Dmytro Shymkiv.

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Only minimal risk of default: Ukraine official

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