16:03 18.01.2021

Ukrainian govt intends to convince IMF that measures on gas market meet Stand-By Arrangement – PM

2 min read
Ukrainian govt intends to convince IMF that measures on gas market meet Stand-By Arrangement – PM

The Government of Ukraine and NJSC Naftogaz Ukrainy are actively consulting with the mission of the International Monetary Fund (IMF) on measures of state regulation in the gas market and are confident in the success of these negotiations, Prime Minister Denys Shmyhal told Interfax-Ukraine. "Surely, they [the IMF mission] will await the release of the final document to make sure that we are really returning to tariff regulation. I am sure that the IMF mission will finish its work in Ukraine, and we will move on with them as planned," he said.

The prime minister said restriction of the gas price for the population at UAH 6.99 per cubic meter is introduced temporarily, for two months, due to the existing imbalances in the market, but it is not a return to the regime of special obligations, which Ukraine refused under the current Stand-By Arrangement of cooperation with the IMF.

Shmyhal said the Fund is also discussing the transition from a monthly contract for the supply of gas to an annual one, as a default contract, as household consumers are used to a fixed tariff. "These arguments are also accepted by the Fund. Naftogaz also spoke with them and assured that no special duties are being imposed, and we do not use non-market mechanisms. Therefore, I consider our cooperation to be absolutely constructive," the prime minister said.

As reported, the mission of the IMF European Department has been working in Ukraine since January 11 on the first revision of Stand-By Arrangement.

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