Ukraine hopes to resume dialogue with IMF

KIEV - Ukraine is hoping to resume negotiations with the International Monetary Fund (IMF) on a review of the stand-by aid program after the country concludes gas negotiations with Russia, Ukrainian Deputy Prime Minister Sergiy Tigipko said here on Wednesday.

"Ukraine and the IMF have different positions on gas tariffs for households. We are in talks with Russia aiming at reducing the gas price. If a compromise is reached, there's nothing to prevent us from resuming our cooperation with the IMF," Tigipko told a news briefing.

According to Tigipko, in late 2011 Ukraine approved a new bankruptcy law, which was one of the preconditions for a $15-billion IMF aid package.

This week Ukraine will consider another two minor draft laws, also needed for cooperation with the IMF, the deputy prime minister said.

Kiev has already received over $3.4 billion from the IMF aid package in accordance with the arrangement reached in July 2010. Further disbursement was frozen in February 2011 due to the Ukrainian government's failure to raise gas prices for households. According to IMF experts, the prices should increase by 50 percent.