Ukraine will have to make significant increases in the price of gas for domestic consumers to get funds flowing again under its suspended International Monetary Fund bailout, the head of a visiting Fund mission said on Monday.
Asked what Ukraine would have to do for the Fund to resume its aid programme, IMF mission chief Christopher Jarvis said: "We recommend significant upfront (gas) tariff increases and regular increases thereafter as part of a time-bound plan to eliminate subsidies."
On the national currency, the hryvnia, Jarvis said: "We continue to believe that greater rate flexibility can better serve Ukraine in adapting to changing economic circumstances and can provide a buffer for external shocks."
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