Ukraine and IMF agree on new 4-year program: All details
Photo: Yulia Svyrydenko, Prime Minister of Ukraine (Getty Images)
Ukraine and the International Monetary Fund have reached a staff-level agreement on a new support program worth 8.2 billion dollars, according to the IMF press service and Ukrainian Prime Minister Yulia Svyrydenko.
The IMF noted that the new four-year program still needs approval from the Fund's Executive Board. That could happen once Ukraine fulfills a set of prior actions and once sufficient financing assurances from donors are in place.
"The agreement covers a set of fiscal and monetary policies to anchor the program, whose goals include maintaining macroeconomic stability, restoring debt sustainability and external viability, tackling corruption, and improving governance," the IMF stated.
The Ukrainian government is expected to accelerate efforts to combat tax evasion and broaden the tax base, including taxing income from digital platforms, eliminating customs loopholes, and removing VAT exemptions. Another key requirement is adopting the 2026 budget in line with the program's framework.
During negotiations between Ukrainian officials and the IMF mission, the sides agreed on reforms of the tax and customs services, including appointing a new customs chief and building an IT infrastructure to improve efficiency, restore trust, and prepare for recovery. Ukraine is also committed to reforming financial planning, reporting, and auditing of state-owned enterprises and banks.
Details from Svyrydenko
The Prime Minister said the week of intensive work with the IMF mission led by Gavin Gray ended with a strong result — agreement on a new 8.2 billion dollar program.
"This program will help finance critical expenditures, maintain macro-financial stability, and unlock additional external support — support that will be vital for Ukraine in the years ahead," Svyrydenko said.
She added that the 2026 budget has already been prepared in line with the new IMF program's requirements. The government expects lawmakers to support it.
The Prime Minister also stressed that Ukraine will continue implementing measures to fight the shadow economy, counter corruption, and strengthen governance in the public sector. Work to reset state-owned enterprise management and the competition for the new Head of Customs is ongoing.
What the Parliament said about the new program
Earlier, Roksolana Pidlasa, head of the Verkhovna Rada budget committee, said the 8 billion dollar IMF program is smaller than expected and less than what Ukraine needs.
Nevertheless, she said the program is expected to launch in January, with the first disbursement also anticipated that same month.
