diff --git a/cabal.project b/cabal.project
index 72a8ccaa6d8..9aa821838f0 100644
--- a/cabal.project
+++ b/cabal.project
@@ -130,7 +130,7 @@ source-repository-package
 source-repository-package
   type: git
   location: https://github.com/input-output-hk/iohk-monitoring-framework
-  tag: 808724ff8a19a33d0ed06f9ef59fbd900b08553c
+  tag: 34abfb7f4f5610cabb45396e0496472446a0b2ca
   subdir:
     iohk-monitoring
     tracer-transformers
diff --git a/nix/pkgs/haskell/haskell.nix b/nix/pkgs/haskell/haskell.nix
index fb8a9304511..76de8bcbb47 100644
--- a/nix/pkgs/haskell/haskell.nix
+++ b/nix/pkgs/haskell/haskell.nix
@@ -49,7 +49,7 @@ let
       "https://github.com/input-output-hk/cardano-ledger-specs"."a3ef848542961079b7cd53d599e5385198a3035c" = "02iwn2lcfcfvrnvcqnx586ncdnma23vdqvicxgr4f39vcacalzpd";
       "https://github.com/input-output-hk/cardano-prelude"."fd773f7a58412131512b9f694ab95653ac430852" = "02jddik1yw0222wd6q0vv10f7y8rdgrlqaiy83ph002f9kjx7mh6";
       "https://github.com/input-output-hk/goblins"."cde90a2b27f79187ca8310b6549331e59595e7ba" = "17c88rbva3iw82yg9srlxjv2ia5wjb9cyqw44hik565f5v9svnyg";
-      "https://github.com/input-output-hk/iohk-monitoring-framework"."808724ff8a19a33d0ed06f9ef59fbd900b08553c" = "0298dpl29gxzs9as9ha6y0w18hqwc00ipa3hzkxv7nlfrjjz8hmz";
+      "https://github.com/input-output-hk/iohk-monitoring-framework"."34abfb7f4f5610cabb45396e0496472446a0b2ca" = "1fdc0a02ipa385dnwa6r6jyc8jlg537i12hflfglkhjs2b7i92gs";
       "https://github.com/input-output-hk/ouroboros-network"."e50613562d6d4a0f933741fcf590b0f69a1eda67" = "0i192ksa69lpzjhzmhd2h1mramkvvikw04pqws18h5dly55f4z3k";
       "https://github.com/input-output-hk/cardano-node.git"."b3cabae6b3bf30a0b1b4e78bc4b67282dabad0a6" = "1csmji1bgi45wgrw7kqy19s4bbbpa78kjg3bz7mbiwb8vjgg9kvq";
       "https://github.com/input-output-hk/Win32-network"."94153b676617f8f33abe8d8182c37377d2784bd1" = "0pb7bg0936fldaa5r08nqbxvi2g8pcy4w3c7kdcg7pdgmimr30ss";
diff --git a/nix/pkgs/haskell/materialized-unix/.plan.nix/iohk-monitoring.nix b/nix/pkgs/haskell/materialized-unix/.plan.nix/iohk-monitoring.nix
index 6baff4f9ee7..5cfc3200a96 100644
--- a/nix/pkgs/haskell/materialized-unix/.plan.nix/iohk-monitoring.nix
+++ b/nix/pkgs/haskell/materialized-unix/.plan.nix/iohk-monitoring.nix
@@ -11,7 +11,7 @@
     flags = { disable-observables = false; performance-test-queue = false; };
     package = {
       specVersion = "1.10";
-      identifier = { name = "iohk-monitoring"; version = "0.1.10.1"; };
+      identifier = { name = "iohk-monitoring"; version = "0.2.0.0"; };
       license = "Apache-2.0";
       copyright = "2018 IOHK";
       maintainer = "operations@iohk.io";
diff --git a/stack.yaml b/stack.yaml
index 06a2d9477d8..513d228c753 100644
--- a/stack.yaml
+++ b/stack.yaml
@@ -130,7 +130,7 @@ extra-deps:
     - cardano-ledger-core
     - alonzo/impl
 - git: https://github.com/input-output-hk/iohk-monitoring-framework
-  commit: 808724ff8a19a33d0ed06f9ef59fbd900b08553c
+  commit: 34abfb7f4f5610cabb45396e0496472446a0b2ca
   subdirs:
     - contra-tracer
     - iohk-monitoring