Member of Parliament and Chair of the Budget Committee of the Verkhovna Rada, Roksolana Pidlasa, announced the start of negotiations between Ukraine and the International Monetary Fund regarding a new financial program. According to her, on November 17, the Ukrainian delegation held a meeting with the head of the IMF mission, Gavin Gray, and his team, during which key aspects of the draft budget for 2026 were discussed.
This is reported by Kyiv24
Main Parameters of the Program and Next Steps
The IMF has proposed a new program for Ukraine amounting to approximately $8 billion, intended for four years. This amount, according to Roksolana Pidlasa, is less than the expectations of the Ukrainian side and does not fully cover the country’s needs. At the same time, participation in the IMF program is a key condition for attracting funding from other sources, including a potential reparations loan.
“The total amount of the program that the IMF is offering to Ukraine is about $8 billion over 4 years. This is less than we expected and less than we need, but the program with the IMF is the key to obtaining funding from other partners, including a reparations loan,” Pidlasa stated.
Expectations Regarding the IMF Decision and Budget Requirements
The final decision by the IMF leadership regarding the launch of the program is expected to be made in January, when the first tranche for Ukraine is also anticipated. A prerequisite for the start of the program is traditionally the adoption of the state budget for 2026 with a deficit agreed upon with the IMF.
Particular attention in the negotiations is paid to the so-called structural benchmarks. The IMF emphasizes the need to increase state budget revenues, particularly through closing tax evasion schemes. This is expected to become one of the main tasks for the Ukrainian authorities in the process of preparing for the new extended financing program.
It should be noted that earlier the International Monetary Fund officially announced the start of discussions with representatives of the Ukrainian authorities regarding the initiation of a new extended financing program (EFF), led by Gavin Gray.