IMF, Ukraine reach agreement on 8.2 billion USD, four-year program
(VOVWORLD) -The International Monetary Fund (IMF) said Wednesday that it has reached a staff-level agreement with Ukraine that may unlock a 4-year support program worth 8.2 billion USD.
 International Monetary Fund's logo (Illustrative photo: REUTERS/Yuri Gripas) |
Ukraine is feeling mounting fiscal pressure after 3 years of conflict. The new agreement will replace the 15.6 billion USD Extended Fund Facility (EFF) approved in 2023. That previous arrangement was based on a no-longer-realistic assumption that the conflict would end by late 2025.
The program is meant to help Kyiv maintain macroeconomic stability and strengthen public finances, said Gavin Gray, head of the IMG mission to Ukraine. It “is expected to catalyze large-scale external support to close Ukraine’s financing gaps,” which is estimated to be around 136.5 billion for the 2026-2029 period, he said.
The new program will be taken to the fund's Executive Board for approval once certain actions are completed and is subject to "adequate financing assurances from donors", according to the IMF. Ukraine has received about 10.6 billion USD under the current program, according to its Ministry of Finance.