Ukraine and the IMF agree on a new financing program for 2026-2029
Prime Minister Yulia Svyrydenko held negotiations with the International Monetary Fund (IMF) mission regarding a new financing program for 2026-2029 to support Ukraine’s macro-financial stability. The results of the discussions will influence the future state financial strategy.
Svyrydenko reported that the IMF mission, led by Gavin Gray, is in Kyiv, cooperating with the government and the NBU on developing an extended financing program. This program is meant to ensure the stability of the state under the conditions of full-scale conflict.
The Ukrainian government informed IMF representatives about new plans in the energy sector, notably the launch of a competition for a new supervisory board of NNEGC “Energoatom” and the start of the company’s audit. The state budget project for 2026 was also discussed, the approval of which is crucial for adopting the new program. Svyrydenko expressed hope that the budget vote would occur by December 2.
In September, Ukraine approached the IMF with a request for a new cooperation program. It is expected to amount to $8 billion over three years, although this is less than planned. However, the program with the IMF is key to attracting funds from other international partners, including reparations loans.
Currently, Ukraine is working under the existing four-year Extended Fund Facility (EFF) program, approved in March 2023, which amounts to $15.6 billion. The first tranche of $500 million was provided in July, and the next, worth $1.6 billion, is expected in December.
| Period | Financing |
|---|---|
| 2023 | $500 million |
| December 2023 | $1.6 billion |
| 2026-2029 | $8 billion (expected) |
