On June 30, the Executive Board of the International Monetary Fund (IMF) completed the eighth review of Ukraine’s Extended Fund Facility (EFF) programme.
As a result of the successful review, Ukraine will soon receive the ninth tranche of the EFF program amounting to approximately $500 million.
The IMF noted Ukraine’s progress in meeting the EFF programme conditions as of the end of March 2025. Despite the full-scale war, Ukraine’s economy remains resilient, and all quantitative performance criteria and indicative targets for the end of March were met. Ukraine also completed two structural benchmarks:
- Submitted legislative amendments to Parliament to introduce tax reporting requirements for digital platform operators.
- Published the external audit report on the National Anti-Corruption Bureau of Ukraine (NABU).
“Following the successful review, Ukraine will receive a tranche of about $500 million soon. This brings the total disbursements under the EFF programme to $10.6 billion. I am grateful to the IMF team for their productive work,” said Ukraine’s Finance Minister Serhiy Marchenko.
IMF First Deputy Managing Director Gita Gopinath emphasized that the full-scale war necessitated changes to the 2025 state budget. Restoring fiscal sustainability and covering priority expenditures in the medium term will require continued decisive efforts to implement the National Revenue Strategy. This involves modernizing the tax and customs services, reducing tax evasion, and harmonizing legislation with EU standards. These reforms, along with improvements in public investment management, medium-term budget planning, and fiscal risk management, are critical for ensuring economic growth and attracting investment.
The government remains committed to reforms and policies aimed at maintaining macroeconomic stability and achieving better economic outcomes despite the ongoing war. Structural reforms cover public finance, the financial sector, monetary and exchange rate policy, governance, anti-corruption measures, and the energy sector.
As a reminder, Ukraine has already received eight tranches totaling about $10.1 billion under the IMF’s EFF programme, out of the planned $15.5 billion for 2023-2027.
Background:
On March 31, 2023, the IMF Executive Board approved a four-year Extended Fund Facility programme for Ukraine with financing of about $15.5 billion (11.6 billion SDRs).
This programme is part of the broader international support package for Ukraine, which currently totals about $152.9 billion for 2023-2027.
Since the start of the full-scale invasion, the IMF has been the third largest financial supporter of Ukraine, after the European Union and the United States.
