Sep 3 Prague [VOA]. Contrary to what many had anticipated, the introduction this week of a national currency in Ukraine is proceeding smoothly. The new money, called the "hryvna" ('reev na), replaces the old inflation-battered provisional currency called the "karbovanets" or "coupon."
While some experts had predicted chaos, in fact there has been none so far. For the next two weeks (beginning Monday, Sep 2) Ukrainians will be able to turn in their wads of old coupons for hryvnas. New hryvna coins have also gone into circulation -- the first time coins have been used in Ukraine since the Coupon replaced the Ruble in 1991.
With the changeover to the new money pre-occupying the person in the street, German Chancellor Helmut Kohl arrived in Kiev for a two day visit. He brought a large business delegation with him. Mr. Kohl said Germany wants to be a partner with an independent Ukraine. His talks with President Leonid Kuchma are focusing on the Chernobyl nuclear plant and several development projects.
One such project was approved Tuesday when Siemens said it had won a contract to increase the capacity of coal-fired power plants in Ukraine. That deal -- and a larger one soon to be signed -- are part of a multi-billion dollar undertaking to close the Chernobyl nuclear plant and replace its generating capacity with several other non-nuclear facilities.