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IMF insists on increasing gas prices for Ukraine before giving money

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The International Monetary Fund insists on raising gas prices for Ukrainian households, a condition necessary for disbursing a $15.15-billion loan to the country, IMF Resident Representative for Ukraine Max Alier said on Monday.

The International Monetary Fund insists on raising gas prices for Ukrainian households, a condition necessary for disbursing a $15.15-billion loan to the country, IMF Resident Representative for Ukraine Max Alier said on Monday.

Ukraine and the fund signed a standby arrangement in 2010 and Kiev has already received over $3.4 billion.

Further disbursement was suspended by the government's failure to reform Ukraine's retirement system and to increase gas prices. Last week, President Viktor Yanukovych signed a retirement reform law despite the nation's discontent.

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