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You're reading: Yatsenyuk: Parliament will adopt unpopular conditions in exchange for IMF aid
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The IMF, which is also talking to Hungary and Belarus, is requiring that Ukraine adopt strict and likely unpopular measures in what could become a new dose of austerity for emerging economies in a region that had shown strong growth in recent years but now are suffering as investors and money flee.

Under the IMF’s expected proposals, the fund will provide regular disbursements of dollars to Ukraine in return for tough domestic measures such as lowering inflation, reducing budget deficits and government spending.

The hope is that the availability of instant dollars will help Ukraine save its banking systems, support its faltering currency and avoid defaulting on its debt. The IMF hasn’t made the conditions public, but provisions in draft legislation indicate they might include reducing government wages and pensions and subsidies for household utilities, as well as increasing taxes on gasoline, alcohol, tobacco and car imports, say experts.

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