Energy War: IMF urges Ukraine to hike gas prices for consumersJuly 7, 2012
The International Monetary Fund again urged Ukraine Friday to raise gas prices for consumers, a sticking point in the resumption of an IMF bailout.
Ukraine's strong economic recovery in 2010-2011, following a global crisis, was slowing under pressure from lower demand for its exports and slow credit growth, the IMF said in an annual review of the economy.
According to IMF projections, growth will slow to 3.0 percent this year after a 5.2 percent expansion in 2011.
The IMF directors "urged the authorities to gradually increase gas and heating tariffs and enhance payment compliance," the global lender said in a statement.Read More...