ZCZC
BCN-47
UKRAINE-IMF-GAS-PRICE
Ukraine, IMF agree in principle on gas price adjustment: media
KIEV, Sept. 19, 2018 (bss/Xinhua) – The Ukrainian government and the
International Monetary Fund (IMF) have reached an agreement in principle on
gas price adjustment, a key element for the continuation of the aid program
for Kiev, local media reported Tuesday, citing a senior Ukrainian official.
According to the Interfax-Ukraine news agency, Andriy Kobolev, the
chairman of Ukraine’s state-run energy company Naftogaz, said that the
agreement envisages that gas prices for consumers in Ukraine will be
gradually increased to the market level by 2020.
The gas price hike is one of the main reforms Ukraine must implement for
receiving the next tranche from the IMF’s 17.5-billion-U.S.-dollar bailout
program.
Since 2015, the East European country has received about 8.7 billion
dollars from the IMF, which helped prevent the collapse of the Ukrainian
economy. The disbursement of the aid was suspended after April 2017.
The IMF mission has been working in Kiev since Sept. 6.
Earlier this month, Yakiv Smoliy, the head of Ukraine’s central bank, said
Kiev is counting on receiving the next portion of the IMF aid following the
mission’s visit to Ukraine.
BSS/XINHUA/HR/1500