Ministry of Finance: Successful IMF program reviews to unlock additional USD 1.9 billion by end of 2025

During the Spring Meetings of the IMF and World Bank, Prime Minister of Ukraine Denys Shmyhal and Minister of Finance Sergii Marchenko met with IMF Managing Director Kristalina Georgieva.

The parties discussed the current state of cooperation between the Government of Ukraine and the International Monetary Fund.

“The IMF continues to respond effectively to Ukraine’s needs. Since the start of the full-scale invasion, Ukraine has received over USD 12.8 billion in budgetary support from the IMF alone. In addition, the Extended Fund Facility (EFF) provides a foundation for economic recovery and facilitates EU accession. I am grateful to our colleagues for their timely and necessary support,” said Sergii Marchenko.

In March 2023, the IMF Executive Board approved a four-year Extended Fund Facility program for Ukraine totaling USD 15.5 billion. To date, USD 10.1 billion has been disbursed following seven successful program reviews.

The IMF is Ukraine’s third-largest partner in terms of financial support, after the EU and the United States.

In 2025, the EFF program envisions up to USD 2.3 billion in funding, based on the outcomes of four reviews. The first USD 400 million under this plan was disbursed to the State Budget in March this year.

Ukraine has already met 40 structural benchmarks under the EFF. Key areas of reform include: strengthening macro-financial stability, structural fiscal policy, fiscal transparency, enhancing public investment management, economic deregulation and improving the business climate, stepping up anti-corruption efforts, and reforming the energy sector.

Kristalina Georgieva assured that the Fund will continue to support Ukraine.

In addition, the Ministry of Finance team held meetings with IMF First Deputy Managing Director Gita Gopinath, Director of the IMF’s European Department Alfred Kammer, Deputy Director Uma Ramakrishnan, and IMF Mission Chief for Ukraine Gavin Gray.

Sergii Marchenko thanked IMF staff for the cooperation in implementing important fiscal and financial measures and policies. This cooperation helps mitigate the devastating economic impacts of the war and supports the strengthening of Ukraine’s financial resilience.