Viktor Yanukovich of Ukraine was inaugurated as president on Thursday and promised to address corruption, poverty, and political instability in order to regain foreign support for the struggling economy. Despite a disputed election and deep divisions in the country, Yanukovich's inauguration marked a significant comeback from the events of the 2004 Orange Revolution. In his speech to officials and foreign dignitaries, Yanukovich acknowledged the challenges facing Ukraine, including debt, poverty, corruption, and economic collapse, and emphasized the need for a forward-thinking strategy to move the country in a positive direction. He mentioned the lack of foreign investment in Ukraine, the uncertain business environment, and his efforts to improve political stability, eliminate corruption, and establish clear rules for the relationship between the government and businesses. These steps were necessary for building trust among investors and international financial institutions in Ukraine. The country's economy has suffered from the global economic downturn, impacting its important exports of steel and chemicals and causing the hryvnia to lose half of its value against the dollar in the past 18 months. Ukraine relies on a $16.4 billion IMF bailout program, but lending was halted last year and will likely only resume once stability is restored. The finance ministry announced that an IMF technical team will visit on April 7th. This often results in a full visit from IMF officials, who will then determine whether to resume the program. Yanukovich, a former mechanic supported by wealthy industrialists, had a difficult childhood in eastern Ukraine and was convicted twice for petty crimes, including assault. He is expected to improve relations with Russia, Ukraine's former Soviet leader, after five years of estrangement during Viktor Yushchenko's pro-Western leadership. Yanukovich has suggested potential compromises with Moscow regarding the Black Sea fleet in Ukraine's Crimean peninsula and has proposed a consortium involving Russia to manage the country's gas pipelines. However, he aims to renegotiate a 10-year-old gas supply agreement with Russia, which was negotiated by Tymoshenko and Russian Prime Minister Vladimir Putin. He has also stated his intention to pursue a well-balanced foreign policy and has promised to work towards strengthening relationships with the European Union. In a speech given on Thursday, he emphasized his commitment to maintaining positive and mutually beneficial relationships with Russia, the EU, and the United States in order to achieve the best possible outcomes for Ukraine. His official website later confirmed that he will be visiting Brussels next week, with EU officials confirming the visit will take place on Monday. Additionally, he plans to visit Moscow within the first 10 days of March, according to his Regions Party. Yanukovich narrowly defeated Prime Minister Tymoshenko by 3.5 percentage points, gaining the support of only one-third of the 37 million eligible voters. The voting results showed a clear divide between Russian-speaking voters in the eastern and southern regions who supported Yanukovich, and Ukrainian-speaking voters in the western and central regions who voted for Tymoshenko. Tymoshenko gave up her legal challenge to Yanukovich's election last Saturday, but she still believes he was not rightfully elected. She and most of her bloc in parliament boycotted Thursday's ceremony, making it seem insincere. Despite Yanukovich's call for a competent executive power, Tymoshenko is refusing to step down as prime minister, leading to ongoing political tension in the short-term. She is working to rally her allies in parliament, while Yanukovich's party and supporters are trying to break up her coalition and form a new one. Creating a coalition involves complex negotiations and may take a significant amount of time. If Yanukovich is unable to form a new coalition, he will be forced to organize new parliamentary elections, leading to even more uncertainty.