EFF with IMF envisages Naftogaz debt neutrality by 2017, says IMF mission head

The four-year Extended Fund Facility (EFF) of the International Monetary Fund (IMF) for Ukraine foresees that national joint-stock company Naftogaz Ukrainy will achieve debt neutrality by 2017, IMF Mission Chief for Ukraine Nikolay Gueorguiev has said.

"Among other things, it is planned to achieve debt neutrality of Naftogaz Ukrainy by 2017, in particular, thanks to the increase of gas tariffs," he said at a press conference in Kyiv on Thursday.

According to an IMF press release published on Thursday, the authorities have decided to implement frontloaded gas and heating price adjustments aiming at reaching full cost recovery by April 2017.