Talk of debt restructuring this week -where terms for repayment are negotiated and changed - caused Ukraine's short-dated dollar bonds to plunge by as much as 6 cents, according to Reuters.Meanwhile, the country's 5-year credit default swaps - the price it costs to insure its debt over a 5-year period - have reached historic highs in recent weeks.
Ukraine is currently using a third of its budget to finance government debt, according to Shlapak. $300 million to $500 million was leaking from Ukraine's budget every month due to different fraudulent schemes like tax evasion, he said, adding that the government is very nearly broke.
"We know that the budget deficit for 2014 is not as it was previously stated," he said. "The main problem is we need $10 billion in debt by the end of the year. This number takes into account higher Russian gas prices for the second quarter of 2014."
(Read more: Ukraine enlists billionaires to take on Russia)
Concerns remain that any money coming from the U.S. or Europe will not be without strings attached. European Central Bank bailouts in Greece, for example, have involved tough austerity packages and fierce opposition inside the country. Shlapak remained adamant that Ukraine could deal with these consequences, saying that Ukrainian citizens were ready to face "economic realities" and also find out the crucial truth about Ukraine's society.
"I hope our new leaders will adopt European principles, we are European, our nation is united," he said.