IMF may approve new program for Ukraine in Feb, it depends on Kyiv's implementation of prior actions – Fund
The Board of the International Monetary Fund (IMF) may potentially approve a new 4-year EFF financing program for Ukraine in February, but this will depend, first of all, on Ukraine’s implementation of agreed prior actions, said Fund’s Director of Communications Julie Kozaсk.
"We don’t have a board date [so far]… We are hopeful that we could potentially have a board meeting in February," she said at the fund’s regular briefing Thursday, Interfax-Ukraine reported.
Kozack explained that the European Council’s approval to provide Ukraine with EUR 90 billion in financial support over 2026 and 2027 is an important milestone in addressing Ukraine’s projected $63 billion budget deficit for 2026-2027 and $136.5 billion over the 2026-2029 program period, as well as in restoring debt sustainability.
"We’re in the final stages of discussions with international donors as they seek to secure all of the necessary financing assurances," the Fund representative described the status of implementation of this prior condition.
Regarding Ukraine’s implementation of prior actions, Kozack stated that only one measure has been implemented so far - the adoption of the state budget for 2026.
"The other one will be that the tax base will need to be broadened, by enacting legislation to tax income earned through digital platforms, closing customs loopholes for consumer goods, and resuming and removing exemptions for VAT. So prompt action by the Ukrainian authorities to complete these and other prior actions will be critical to maintaining reform momentum and assisting Ukraine in unlocking financing for its large needs," the fund’s communications director emphasized.
She said one of the goals of IMF Managing Director Kristalina Georgieva’s visit to Kyiv this Thursday is to highlight the importance of maintaining reform momentum in Ukraine and the Fund’s support for it.
Kozack noted that during the visit, Georgieva will meet with President Volodymyr Zelenskyy, Prime Minister Yulia Svyrydenko, Finance Minister Serhiy Marchenko, and National Bank of Ukraine Governor Andriy Pyshnyy, as well as with several private sector representatives.
"She [Georgieva] wants to understand the key issues as they see it, you know, on the ground. So having that kind of those discussions will be will be very important for her," the fund’s communications director emphasized.
She added that the visit is intended to help coordinate and catalyze international financial support for Ukraine.
Kozack recalled that this is the first visit by the IMF chief to Kyiv since February 2023, when discussions on the previous Fund program were also underway.
After Kyiv, Georgieva will travel to Rome for her first meeting with Pope Leo XIV, then attend the World Economic Forum 2026 in Davos from January 19-23, after which she will visit Brussels for meetings with EU leadership.
At the briefing, Kozack declined to comment on reports that Ukraine had made a SDR 125.7 million ($179.4 million) payment toward the repayment of the $1.3 billion emergency financing tranche allocated in October 2022 under the IMF’s Rapid Financing Instrument (RFI).
"Our general practice is not to comment on specific transactions of our member countries," she said.
Last year, the IMF allocated SDR 674 million to Ukraine, while Ukraine paid SDR 1.7 billion in principal and SDR 523.5 million in interest.
15.01.2026, 18:28 Political News | Business News