Business peciliarities in Ukraine and Bealrus
life depends on. At end of the year, gas prices for households accounted for about one-fifth
and those for utilities for one-third of import prices. Officially the low gas prices are justified
as poverty alleviation, but it is difficult to imagine a less effective and less equitable pro-poor
policy.
The chart below illustrates dynamic of gas prices in Ukraine import vs household prices.
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Source: Ukraine Macro Outlook for 2013 by UkrSibbank (BNP Paribas Group)
Following this, there was little left of Ukraine's credibility as a policy program partner. Yet,
another stand-by arrangement amounting to $15.3 billion was somewhat surprisingly
approved by the IMF on July 28, 2010.
2013 is extremely challenging year for Ukraine in terms of servicing its debt. The table below
summarizes Ukraine's FX (foreign currency) denominated debt repayment schedule for 2013
is billion $.
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