IMF mission arrives in Kyiv: Ukraine to undergo first review of new $8.1 billion program

Budget, military payments and structural reforms at the center of negotiations

The International Monetary Fund mission arrived in Kyiv to conduct the first review of the new four-year Extended Fund Facility (EFF) for Ukraine, totaling $8.1 billion.

This was announced by the Fund’s Resident Representative in Ukraine, Priscilla Tofano. The delegation is headed by Gavin Gray.

Ukraine to discuss changes to the state budget with the IMF

During the visit, the Fund’s representatives will hold a number of meetings with the Ukrainian authorities and international partners. The main topics of the negotiations will be the state’s macroeconomic policy, the implementation of structural reforms and the country’s budgetary stability in wartime.

Earlier, Finance Minister Serhiy Marchenko reported that the parties also plan to discuss possible changes to the state budget, in particular the issue of increasing payments to military personnel.

Fulfillment of the Memorandum’s Terms Remains Key

Ukraine’s cooperation with the International Monetary Fund is based on the Memorandum of Economic and Financial Policy, which provides for the implementation of specific reforms within specified deadlines.

Ukraine and the IMF agreed on a new 48-month EFF program in February 2026. It was a continuation of the previous cooperation, within the framework of which the Ukrainian program underwent a record number of revisions and adjustments due to the challenges of wartime.

Further financing depends on the results of the mission

The first review of the program is of strategic importance for Ukraine, since it is precisely on the fulfillment of the agreed conditions that further allocation of international financing and support for the macro-financial stability of the state depend.

The IMF mission traditionally assesses not only financial indicators, but also the pace of implementation of reforms in the field of governance, economy, and state institutions.