Ukrainian President Calls For Cease Fire In Peace Proposals

Ukrainian President Petro Poroshenko made peace proposals for the rebellious east involving a unilateral ceasefire by government forces, according to The Associated Press.

Poroshenko, installed as president 11 days ago, nominated Pavlo Klimkin, a pro-European diplomat now serving as ambassador to Germany, for foreign minister, the AP reported.

Poroshenko also asked parliament to approve Valeria Hontareva, an experienced banker widely respected in business circles, as new central bank chief, according to the AP.

Both nominations, which require parliament's approval, confirmed Poroshenko's determination to shift the ex-Soviet republic towards the European Union and attract foreign investment for the cash-starved economy, the AP reported. He may present his nominees to parliament on Thursday.

"We are seeing Poroshenko appoint very credible, pro-western, market and business-friendly people," said Timothy Ash of Standard Bank in a commentary, according to the AP.

Klimkin is a 47-year-old Moscow-educated physicist who entered the foreign service more than 20 years ago, becoming Ukraine's envoy to Germany in 201, the AP reported.

Seen as ardently committed to European integration, he played a key role in negotiating the association and free trade agreements with the EU, which toppled president Viktor Yanukovich spurned, finally provoking the uprising that brought him down, according to the AP. Hontareva has worked for leading Ukrainian and international financial institutions in Ukraine for 18 years.

Hontareva held the post of first deputy chairman of the board and financial markets chief at ING Bank Ukraine from January 2001 to December 2007, the AP reported. Prior to that she served as a member of the board of Societe General Ukraine, where she was responsible for capital market operations.

If approved as head of the central bank, she will figure prominently in future negotiations with the International Monetary Fund which last May signed off on a $17 billion bailout for Ukraine with tough conditions including steep hikes in gas tariffs and floating the national hryvnia currency, according to the AP.

Poroshenko also nominated Vitaly Yarema, currently first deputy prime minister, to be prosecutor general. In that key law-enforcement post, he will be expected to play a role in reforming the country's corruption-ridden judiciary, the AP reported.