Ukraine will have to increase the gas tariffs for population by the end of the year in order to fulfill the key condition of the International Monetary Fund for restarting a $15.6 billion loan program, Deputy Prime Minister Serhiy Tigipko said yesterday in an interview in Washington, where he was attending the fund’s annual meeting.
“Now we’re facing a fairly tough choice, which I believe we need to make. We see what’s happening with the market, which is rapidly deteriorating, and what’s happening with the economy of our main partner, the European Union," he said.
"We understand that this situation impede our cooperation with the World Bank and EU. The World Bank may provide as much as $850 million under two programs that are practically ready while the European Union might offer 610 million euros. But these programs will not work unless we have support of IMF. We can’t do without the International Monetary Fund’s program," he said.
Tigipko does not exclude that Kyiv might manage to agree with IMF on allocation of two loans simultaneously.
“Now we’re facing a fairly tough choice, which I believe we need to make. We see what’s happening with the market, which is rapidly deteriorating, and what’s happening with the economy of our main partner, the European Union," he said.
"We understand that this situation impede our cooperation with the World Bank and EU. The World Bank may provide as much as $850 million under two programs that are practically ready while the European Union might offer 610 million euros. But these programs will not work unless we have support of IMF. We can’t do without the International Monetary Fund’s program," he said.
Tigipko does not exclude that Kyiv might manage to agree with IMF on allocation of two loans simultaneously.
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