IMF program for Ukraine may be revised: What it depends on
Photo: IMF Managing Director Kristalina Georgieva and Ukrainian Finance Minister Sergii Marchenko (mof.gov.ua)
Ukraine's IMF lending program may be revised depending on what decision the European Union makes regarding the country's funding, said the Deputy Governor of the National Bank of Ukraine, Sergiy Nikolaychuk, during a briefing in response to a question from an RBC-Ukraine correspondent.
He noted that the new IMF program, which has already been agreed upon, could be adjusted based on the timing and mechanism of Ukraine's funding approved by the EU.
"Depending on the decisions made today or tomorrow, the optionality could change, and possibly the schedule may depend on this. For now, our baseline scenario is that there will be both a reparations loan and the IMF program at the beginning of next year," Nikolaychuk said, noting that uncertainty around the EU decision remains.
"Depending on how the situation evolves, we will adjust our scenarios and responses accordingly," added the Deputy Governor.
It is important to note that defining the financing instrument for Ukraine from international partners is a prerequisite for the IMF to release a new lending program.
New IMF program for Ukraine
On November 26, it was reported that Ukraine and the IMF agreed on a new $8.2 billion lending program.
The final decision still needs to be approved by the IMF Executive Board after Ukraine fulfills prior conditions and confirms donor financing.
The program aims to maintain economic stability, reduce debt risks, fight corruption, and improve governance.
Ukraine is expected to strengthen its fight against tax evasion, broaden the tax base, close customs loopholes, cancel VAT benefits, and approve the 2026 budget under the new program.
