Sergii Marchenko and Kristalina Georgieva discussed reform implementation, domestic resource mobilization and Ukraine’s financing needs for 2027

Minister of Finance of Ukraine Sergii Marchenko met with Managing Director of the International Monetary Fund Kristalina Georgieva on the sidelines of the informal meeting of EU economy and finance ministers (ECOFIN) in Dublin.

The key topics of the discussion included the continued implementation of the Extended Fund Facility (EFF) programme, preparation of Ukraine’s 2027 State Budget, ensuring predictable external financing, and Ukraine’s progress in implementing structural reforms.

Sergii Marchenko thanked the IMF for its consistent financial and expert support for Ukraine. The Minister stressed that cooperation with the Fund remains an important signal to international partners of the consistency and credibility of Ukraine’s economic policy.

“The IMF programme remains a key anchor of Ukraine’s macro-financial stability. We continue to fulfil our commitments and implement the necessary reforms. At the same time, our key task today is to secure a sufficient, steady and predictable level of external financing for 2027. In this context, the IMF’s leadership is critically important for consolidating support from all our international partners,” Sergii Marchenko said.

The parties paid particular attention to Ukraine’s financing needs in 2027. The draft 2027 State Budget has been prepared under conditions of continued russian aggression, with security and defence needs remaining substantial. All available domestic resources are being directed towards strengthening Ukraine’s ability to effectively resist the aggressor. At the same time, russian attacks are increasingly affecting logistics, ports, industrial facilities and business operations, directly constraining export capacity, economic activity and the potential for state budget revenues.

Timely and predictable international support remains critical to ensuring that Ukraine can meet its social and humanitarian obligations. Ukraine’s need for international financial support in 2027 is estimated at USD 52.6 billion. Financing is expected from the EU, G7 countries under the ERA mechanism, the IMF, the World Bank, the United Kingdom and other partners.

A portion of the required external financing for 2027, amounting to USD 32.6 billion, still needs to be confirmed. The Ukrainian side stressed the importance of the Fund playing an active role in consolidating predictable and fairly distributed commitments among G7 countries, the EU and other partners.

The parties also discussed Ukraine’s progress in meeting the structural benchmarks under the EFF programme. Following the first review of the new IMF programme, Ukraine met all quantitative performance criteria and indicative targets as of the end of March 2026. In particular, tax revenues exceeded the programme’s minimum target.

The Minister of Finance reaffirmed Ukraine’s commitment to further fulfilling its obligations under the programme and implementing reforms necessary for European integration. Recently, the Verkhovna Rada adopted at first reading seven draft laws identified as critically important for the continuation of international financial assistance and Ukraine’s integration into the EU.

Additional information

In February 2026, the IMF Executive Board approved a new four-year EFF programme for Ukraine amounting to USD 8.1 billion. The programme covers 2026–2029 and is aimed at preserving macroeconomic and financial stability, ensuring debt sustainability, and advancing structural reforms.

In July, the IMF completed the first review of the programme, providing Ukraine with access to approximately USD 690 million. Total financing received under the new programme has reached around USD 2.2 billion.