IMF Executive Board completed first review under EFF Arrangement: Ukraine to receive about USD 690 million

The Executive Board of the International Monetary Fund has completed the first review of the new programme for Ukraine under the Extended Fund Facility (EFF).

The successful completion of the review gives Ukraine access to the programme’s second disbursement of about USD 690 million. The funds are expected to be disbursed shortly. Following the disbursement, the total financing received by Ukraine under the new EFF arrangement will reach USD 2.2 billion.

The IMF noted that Ukraine had maintained macroeconomic and financial stability despite the exceptionally challenging conditions caused by the full-scale war. All quantitative performance criteria and indicative targets as of end-March were met.

As part of the review, the parties also agreed on an updated timetable for implementing structural reforms, corrective measures to address delays, and additional policy commitments required for the continued implementation of the programme.

“The successful completion of the first review under the new EFF arrangement is an important confirmation of the resilience of Ukraine’s financial system. I am grateful to the IMF team, the Government of Ukraine and the National Bank of Ukraine for the constructive and professional work. We continue implementing the reforms necessary to preserve macrofinancial stability, mobilise domestic resources, and create the conditions for Ukraine’s recovery and European integration,” said Minister of Finance of Ukraine Sergii Marchenko.

The programme’s key priorities continue to include ensuring fiscal sustainability, effectively managing budget resources, mobilising domestic revenue, and advancing reforms in the tax and customs sectors.

Particular attention is being paid to reducing the shadow economy, improving tax administration, and combating tax evasion. These measures are expected to promote a level playing field for businesses, improve the investment environment, and support Ukraine’s integration into the European Union’s Single Market.

Additional information

On 26 February 2026, the IMF Executive Board approved a new four-year EFF arrangement for Ukraine amounting to approximately USD 8.1 billion. In March, the first disbursement of USD 1.5 billion was transferred to the State Budget.

The programme covers the period from 2026 to 2029 and reflects the current macroeconomic, fiscal and security challenges facing Ukraine amid the prolonged full-scale war. It builds on the achievements of the previous EFF arrangement, which had been in place since March 2023.

The International Monetary Fund remains the third-largest provider of financial assistance to Ukraine since the beginning of the full-scale invasion. Following the disbursement of the second tranche under the new programme, total IMF financing provided during this period will reach USD 15.6 billion.