Terms of the New IMF Program: President of Ukraine, Prime Minister, and Minister of Finance met with the IMF Managing Director in Kyiv

The IMF program for 2026–2029 is critically important for ensuring Ukraine’s macrofinancial stability, covering substantial current and medium-term budgetary needs, and supporting structural reforms.

Having an IMF program sends an important signal to international partners about Ukraine’s unwavering strategic commitment to reforms and financial stability. Such a program creates the conditions for predictable budget support, the attraction of long-term investment, and the recovery and modernization of the economy.

The Ukrainian side emphasized this during discussions with IMF Managing Director Kristalina Georgieva as part of her visit to Kyiv.

The meeting was attended by President of Ukraine Volodymyr Zelenskyy, Prime Minister Yulia Svyrydenko, and Minister of Finance Sergii Marchenko.

The parties discussed the parameters of the new Extended Fund Facility (EFF) program for 2026–2029 and further cooperation between Ukraine and the IMF.

As a reminder, in November 2025, Ukraine and the IMF reached a staff-level agreement on a new four-year EFF program. The agreement envisaged financing for Ukraine in the amount of USD 8.1 billion (SDR 5.94 billion).

Particular attention was paid to the implementation of prior actions required to launch the new program ahead of the IMF Executive Board meeting scheduled for February.

Ukraine must perform a number of conditions covering fiscal and tax policy, improvements in tax administration, changes to labor legislation to reduce shadow employment, and the creation of a level playing field for business participation in public procurement.

It was noted that Ukraine has adopted the State Budget for 2026 in line with the EFF parameters and continues work on other legislative and regulatory steps.

“Cooperation with the IMF is a key anchor of Ukraine’s macrofinancial stability amid the ongoing war. It also remains the foundation of international partners’ trust in Ukraine’s economic policy. The Government demonstrates a responsible approach to reforms while striving to ensure balanced solutions that support the economy and business under extremely difficult conditions,” said the Minister of Finance of Ukraine.

The Government of Ukraine continues efforts to increase domestic State Budget revenues. The parties discussed measures already implemented in this area and their effectiveness.

At the end of 2025, own-budget revenues increased by 24%, or nearly USD 10 billion in equivalent terms, compared to 2024. In 2026, a further revenue increase of 21% is projected. The domestic government debt market remains one of the key sources of budget financing, while public debt indicators show a decline in borrowing costs and an extension of maturities.

The IMF Managing Director assured continued support for Ukraine in the context of russia’s full-scale invasion. Ukraine and the IMF continue close consultations to launch the new program in the near future.

Since February 2022, the IMF has provided USD 13.4 billion to Ukraine, becoming the fourth-largest provider of budget support.