IMF Board to receive new 4-year Ukraine program for approval in coming days

 The management of the International Monetary Fund (IMF) plans in the coming days to submit to the Fund’s Executive Board Ukraine’s request to open a new four-year Extended Fund Facility (EFF) program worth $8.1 billion, IMF spokesperson Julie Kozack said.

After receiving adequate financing assurances from international partners, and after the completion of agreed prior actions by the authorities, we aim to submit this request to our Executive Board in the coming days, she said at a regular briefing Thursday.

Kozack recalled that in November 2025, the IMF and Ukrainian authorities reached a staff-level agreement (SLA) on a new four-year EFF program worth $8.1 billion.

As previously reported, a four-year EFF program worth $15.6 billion had been in effect since March 2023. The next, ninth tranche of SDR 1.117 billion ($1.6 billion at the current exchange rate) had been scheduled for December 2025.

The existing program originally envisioned total external financing for Ukraine with international partners of $115 billion under the baseline scenario and $140 billion under the adverse scenario, but as the war dragged on, these figures were revised upward to $153 billion and $165 billion, respectively.

During an IMF mission to Kyiv from September 3 to September 10, 2025, First Deputy Prime Minister Svyrydenko, along with the governor of the National Bank of Ukraine and the finance minister, formally requested a new IMF program, tentatively covering 2026–2029. The need for a new program stems from Russia’s prolonged war against Ukraine, while the current EFF was designed around an assumption the war would end by March 2027.