Photo: Ministry of Finance
The IMF has no claims due to the reduction in electricity tariffs
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The finance minister explained what the fund’s reaction to changes in tariffs in Ukraine depends on.
The IMF is not worried about a decrease or increase in tariffs in Ukraine, if this does not create fiscal risks for the budget. This was stated by the Minister of Finance Sergei Marchenkov interview Interfax-Ukrainetalking about reduction of electricity tariffs since October.
“I see no reason why this decision should affect the negotiations. Our program, by and large, does not focus on raising or lowering tariffs. These tariff stories are interesting from the point of view of fiscal risks,” he said.
The minister noted that there is no negative reaction from the fund regarding the reduction of electricity tariffs.
“This is the business of the Ministry of Energy, they communicate with the fund. I think they discussed this decision with him. But there is no doubt that this decision should be fiscally balanced. We will not cover any tariff needs from the budget … The Ministry of Energy bears everything risks and responsibility. The budget of Ukraine will in no way subsidize these companies (Energoatom, Ukrhydroenergo – ed.) “, the minister emphasized.
Marchenko also said that IMF stand-by program can be extended for six months after agreement with partners.
It is worth noting that Ukraine received the last tranche from the IMF last summer, not counting $ 2.7 billion in distribution fund, which took place on 23 August.
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