The International Monetary Fund (IMF) issued a statement regarding the eighth review of the Extended Fund Facility (EFF) for Ukraine, reported by the country’s public news agency, Ukrinform.
The IMF confirms that Ukraine’s economy remains stable, having met all quantitative performance criteria by the end of March, alongside preliminary measures and two structural benchmarks of the review.
The organization highlighted the necessity for Ukraine to achieve progress in domestic revenue mobilization, strengthen the investment climate, improve governance, and complete the debt restructuring strategy to restore fiscal and debt sustainability and support growth.
Additionally, four new structural benchmarks were introduced, including measures to update the single project portfolio, develop a priority program for financial market infrastructure, implement international valuation standards, and draft legislative proposals to harmonize securitization and securities with international standards.
The IMF’s executive board also reviewed timelines for some other structural benchmarks, including appointing the head of the State Migration Service, providing authorities more time for significant reforms, as highlighted by Ukrinform.
Ukrainian authorities requested a reallocation of IMF funding access for the remainder of 2025 to better align with Ukraine’s updated balance of payments needs.
The total size of the program remains unchanged, the Ukrainian news agency noted.
The current EFF program, enabling Ukraine to receive up to $15.5 billion in credits over four years, was approved in late March 2023.
The EFF also aims to support economic recovery, improve governance, and strengthen institutions to foster long-term growth amidst Ukraine’s reconstruction and its path toward the European Union (EU).
Ukraine has relied on financial and military aid from Western allies since Russia invaded the country on February 24, 2022.
The Russian military offensive in Ukraine, launched on February 24, 2022, has plunged Europe into its most severe security crisis since World War II (1939-1945).
