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Ukraine Names New Bank Chief as Economy Totters

<p>Stepan Kubiv takes over an economy on the brink of default.</p>
Image: People watch the Independence Square from a balcony.
People watch the Independence Square from a balcony on Feb. 24. Ukraine issued an arrest warrant on February 24 for ousted president Viktor Yanukovych over the "mass murder" of protesters and appealed for $35 billion in Western aid to pull the crisis-hit country from the brink of economic collapse.BULENT KILIC / AFP - Getty Images

Ukraine's parliament appointed a new chairman of the central bank on Monday after the previous incumbent resigned following the overthrow of President Viktor Yanukovych.

Stepan Kubiv, a member of parliament with experience in banking, will take over the role after a total of 310 deputies in the 450 seat chamber backed his appointment, Reuters reported.

He takes over an economy on the brink of default. It's debt stands $73 billion, and it needs to pay $12 billion of that this year.

Earlier Monday, Ukraine said it needed $35 billion in foreign assistance over the next two years and appealed for urgent aid.

The Finance Ministry said it had called for a donor's conference and needed the first aid in the next week or two.

Reuters contributed to this report.