Ukraine and the IMF reached Staff-Level Agreement on a new USD 8.1 billion Extended Fund Facility (EFF) Arrangement

Between November 17 and 21, representatives of the Government of Ukraine and staff from the International Monetary Fund held discussions on a new Extended Fund Facility (EFF)Arrangement.

As a result of these meetings, Ukraine and the IMF reached a staff-level agreement on a new 48-month EFF program. The agreement provides for USD 8.1 billion (SDR 5.94 billion) in financing for Ukraine and includes a set of monetary and fiscal measures aimed at supporting macroeconomic stability and Ukraine’s economic recovery.

The new program will be submitted to the IMF Executive Board for approval. Before that, Ukraine should complete prior actions and secure adequate financing assurances from donors.

Despite the challenging conditions and uncertainty caused by the war, the EFF program serves as a cornerstone for cooperation with international partners and paves the way for large-scale donor financing, including from G7 countries and the European Union.

Welcoming the agreement with the IMF, Ukraine’s Minister of Finance Sergii Marchenko stated:

“IMF staff, the Government of Ukraine, and the National Bank of Ukraine have done substantial work to reach this agreement. I am grateful to the IMF for the constructive cooperation throughout the mission. The new program will support macro-financial stability and advance reforms needed for European integration. The Government of Ukraine will continue implementing reforms despite the challenges of the war, in close cooperation with partners. The program will also help mobilize large-scale external support to cover Ukraine’s financing needs.”

IMF staff emphasized the importance of adopting the 2026 budget in a timely manner and in line with the program’s framework. They also noted the Government of Ukraine’s commitment to implementing domestic revenue-mobilization measures. At the same time, the need for timely, large-scale external financing on concessional and grant-like terms remains critical.

Under the news program, the Government of Ukraine commits to strengthening policies that support fiscal, external, price, and financial stability; sustaining economic recovery; and enhancing governance and institutional capacity to facilitate long-term growth as Ukraine moves toward post-war reconstruction and European integration.