Viktor Yanukovich of Ukraine was inaugurated as president and immediately promised to address corruption, poverty, and political instability in order to regain foreign support for the struggling economy. The low-key ceremony reflected the contentious election and deep divisions in the country, with his rival Yulia Tymoshenko disputing the results. Despite this, his inauguration marked a comeback from the 2004 Orange Revolution, where mass protests overturned a rigged election in his favor. Yanukovich acknowledged the challenges of colossal debts, poverty, corruption, and economic collapse, stating that his team has developed a strategy for progress. He mentioned the lack of foreign investment in Ukraine and the unstable business climate, emphasizing the need for political stability, anti-corruption measures, and clear regulations for the relationship between the government and businesses. These factors are essential for building trust with investors and international financial institutions. Ukraine's economy has been severely impacted by the global economic downturn, particularly affecting its steel and chemical exports and causing a significant devaluation of its currency. The country is relying on a $16.4 billion IMF bailout program, but lending has been halted and will likely only resume once stability is restored. The finance ministry announced that an IMF technical mission is scheduled to visit on April 7th. This often results in a thorough visit from IMF officials who will then determine whether to resume the program. Yanukovich, a former mechanic with strong support from wealthy industrialists, had a difficult upbringing in eastern Ukraine and a history of minor criminal offenses. He is anticipated to strengthen relations with Russia, Ukraine's former Soviet ruler, following five years of distance during Viktor Yushchenko's pro-Western leadership. He has suggested potential compromises with Moscow regarding the status of Russia's Black Sea fleet in Crimea and has proposed a consortium with Russia to manage Ukraine's gas pipelines. However, he aims to revise a decade-old gas supply agreement negotiated by Tymoshenko and Russian Prime Minister Vladimir Putin. He also mentioned his intentions to have a well-balanced foreign policy and expressed his commitment to strengthening relations with the European Union. During his speech on Thursday, he stated that he would maintain open options and strive for equal and mutually beneficial relationships with Russia, the EU, and the United States in order to achieve maximum benefits for Ukraine. His website later confirmed his upcoming visit to Brussels next week, with EU officials scheduling the visit for Monday. Additionally, he plans to visit Moscow in the first 10 days of March, as announced by his Regions Party. Yanukovich defeated Prime Minister Tymoshenko by a margin of 3.5 percentage points, but only a third of the 37 million voters supported him. 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 areas who voted for Tymoshenko. Tymoshenko gave up her legal challenge to Yanukovich's election just last Saturday, but she maintains that he was not rightfully elected. She and most of her bloc in parliament did not attend the ceremony on Thursday, making it seem empty. Despite Yanukovich's call for the formation of a capable executive power, Tymoshenko is still resisting efforts to remove her as prime minister, indicating ongoing political tension in the short-term. She is trying to rally her allies in parliament, while his party and its influential supporters are trying to sway deputies from her coalition and create a new one. Creating a coalition involves complex negotiations and may take a considerable amount of time. If Yanukovich is unable to form a new coalition, he will have no choice but to hold new parliamentary elections, leading to even more uncertainty.