The International Monetary Fund (IMF) mission has started its work in Kyiv, focusing on macroeconomic policy and key structural reforms. This is part of the first review of the extended financing program for Ukraine.
The permanent representative of the IMF in Ukraine, Priscilla Tofano, stated that the mission, led by Gavin Gray, is holding meetings with representatives of the Ukrainian authorities and other partners. These discussions are part of the first review of the extended financing program and the 2026 Article IV consultations. These measures are expected to be crucial for further economic growth and the development of reforms in Ukraine.
In February this year, the IMF’s board of directors approved a new four-year extended financing program for Ukraine amounting to $8.1 billion. As part of this program, Ukraine committed to several obligations, including the cancellation of VAT exemptions for individual entrepreneurs starting January 1, 2027, and the cancellation of VAT on imported parcels worth up to 150 euros. Previously, in mid-April, Ukraine managed to agree with the IMF on postponing the first obligation by a year, while the bill regarding parcels was not supported by the Verkhovna Rada on May 26.
According to experts, these discussions may finally determine Ukraine’s success in implementing key reforms. The results of the negotiations are expected to enable Ukraine to receive the next tranche of financial assistance, which will support the country’s macroeconomic stability.
| Date | Event |
|---|---|
| May 27 | Arrival of the IMF mission in Kyiv |
| February | Approval of the $8.1 billion financing program |
| Mid-April | Postponement of VAT cancellation for individual entrepreneurs |
| May 26 | Failure of the bill regarding parcels |
