An ongoing multibillion-dollar programme for Ukraine is under review by an International Monetary Fund monitoring mission, with Kyiv seeking over $41 billion in international aid to cover its budget gap next year.
According to the IMF statement, the mission has commenced policy discussions with Ukrainian officials on the $15.6 billion Extended Fund Facility (EFF) loan, as part of the larger $115 billion global support package for the economy amidst Russia’s invasion of Ukraine.
Ukraine’s central bank governor Andriy Pyshnyi emphasized the crucial importance of maintaining the IMF’s support for the country’s development and its European future, highlighting the upcoming discussions on the financial sector, foreign exchange market, and budget deficit financing.
With geopolitical tensions escalating, Finance Minister Serhiy Marchenko conveyed the challenges in securing financial support, despite Ukraine having received substantial aid of $35.4 billion this year and $31 billion last year, according to the finance ministry data.
While Prime Minister Denys Shmyhal anticipates a reduction in the 2024 budget deficit, Ukraine still relies heavily on international aid, requiring approximately $41 billion to bridge the gap. This week, Kyiv awaits an EU assessment on its progress in meeting economic and legal criteria for accession talks, with a focus on judicial reforms, anti-corruption measures, and transparency improvements.
