国际英语新闻:Ukrainian parliament appoints Speaker as interim president

KIEV, Feb. 23 (Xinhua) -- Ukrainian lawmakers on Sunday voted to hand over the duties of president to parliament Speaker Oleksandr Turchynov, in accordance with the country's new constitution that entered into force earlier in the day.

The parliament's move came one day after the lawmakers ousted President Viktor Yanukovych from his post and set early elections for May 25.

Addressing a parliamentary session, Turchynov described the economic situation in his country as "catastrophic."

"We do not have the funds on the treasury accounts and there are huge problems with the pension fund. You see what's happening with the national currency, the banking system," Turchynov said.

He ordered the lawmakers to speed up the formation of a new government and the parliament's majority to improve the economic situation.

Due to a three-month crisis triggered by anti-government protests and the political uncertainty after the parliament's vote to dismiss Yanukovych, Ukraine is on the edge of economic collapse.

The country's currency, the hryvnya, has lost around 10 percent since the beginning of this year, while the foreign exchange reserves has dropped to their lowest level in eight years.

Experts here warned that Ukraine may default in the near future over its huge state debt and public deficit.