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Ukraine had violated the requirement of the IMF to raise gas prices
Higher cost of gas necessary to reduce the budget deficit in Ukraine, which is also a requirement of the IMF as part of the country of the next tranche of the loan. On its sides agreed in November 2008.

National Electricity Regulatory Commission (NERC), Ukraine was unable to raise the marginal cost of gas for the utilities thermal power (CTV) from 1 October. This, according to the "regional committee", said the head of pricing and tariff policy of oil and gas NERC Vladimir Semenets. Higher cost of gas from 1 October 2009 was one of the main requirements of the International Monetary Fund (IMF), providing Ukraine stabilization loans.

According Sementsov, higher gas prices were provided by decree number 812 of 9 July 2009. This document is not lodged for registration with the Ministry of Justice. "Decree number 812 does not work. It is not subject to registration ", - added Semenets. As explained Rosbalt, district administrative court of Kiev has forbidden the Ministry of Justice to register order. Thus, the cost of gas for the CTV has not been increased and now stands at 872.78 hryvnia (106.2 dollars) per thousand cubic meters.

In early September 2009, the representative of the National Bank of Ukraine (NBU) Sergei Kulik said that the country was able to negotiate with the IMF to raise gas prices to the public from 1 October this year. Previously it was assumed that the price of fuel for the Ukrainians will be raised from 1 September. In June 2009, Prime Minister of Ukraine Yulia Tymoshenko announced that the price of gas until the end of the year will not change. However, the state company Naftogaz Ukrainy had repeatedly stated that they consider it necessary to increase gas prices by 30 percent.

Higher cost of gas necessary to reduce the budget deficit in Ukraine, which is also a requirement of the IMF as part of the country of the next tranche of the loan. On its sides agreed in November 2008. The total amount of anti-crisis loan is 16.5 billion dollars, of which Ukraine has already received 10.5 billion. Will there be interrupted loaning Ukraine because of non-compliance fund is still unknown.
Category: Ukraine | Views: 682 | Added by: magictr | Tags: IMF, Ukraine | Rating: 0.0/0
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