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You're reading: Ukraine faces tough choices on financing

The International Monetary Fund seems finally to be willing to play hardball with Ukraine over energy price adjustment, with reports over the weekend that the fund is unwilling to unfreeze the stalled billions of dollars in bailouts unless the government cracks ahead with prior agreements made to hike domestic gas prices.

Ukraine appeared to deliver three of the four prior conditions required to unblock the fresh IMF bailout loans (related to developing an foreign exchange swap market, dealing with independence of the central bank and pension reform), stalled since March 2011.

But Ukraine has still failed to deliver on the final prior action, hiking domestic gas prices.

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