Ukrainian Finance Minister Danyliuk notes progress in gas price talks with IMF

Ukrainian Finance Minister Danyliuk notes progress in gas price talks with IMF

Ukraine and the IMF have defined the basic principles in discussing a new gas price formula, which is one of the main prerequisites for granting Ukraine the next IMF tranche.

Ukrainian Finance Minister Oleksandr Danyliuk said this following the meetings with the IMF leadership in Washington on Sunday, an Ukrinform own correspondent reports.

"There is a progress in the talks on gas price formula. We did not reach a final agreement, but we advanced and defined certain principles. The negotiations are ongoing," the head of the Ukraine’s Finance Ministry said.

Danyliuk added: “If the price is too low, this will create opportunities for corruption in the market. If the price is too high, Ukrainians will pay more provoking a need for large subsidies and, subsequently, increasing the burden on the budget and the system of subsidies management.”

"Therefore, we need to find the right optimum. The only optimum position is the import parity price," the Ukrainian Finance Minister said.


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