IMF still wants Ukraine to increase energy tariffs and exchange rate flexibility

11:42, 31.10.2013 1 min read

The Ukrainian authorities should adopt a comprehensive package of measures to stabilize the situation in the country's economy, in particular, by increasing tariffs for energy resources and making the exchange rate more flexible, IMF Resident Representative in Ukraine Jerome Vacher has said.

"We encourage the authorities to adopt a comprehensive package of measures to remove imbalances in the economy: The fiscal deficit is too high," he said during a conference organized by Fitch Ratings in Kyiv on Thursday.

Vacher said that the issue concerns the measures that can help achieve stabilization in the short term and that are necessary in the medium term.

"We propose a more flexible exchange rate to improve competitiveness. The issue concerns a more flexible exchange rate, strengthening the financial sector, fiscal changes, and reforms in the energy sector. First and foremost, this foresees an increase in tariffs," he said.