Ukraine and IMF reach staff-level agreement that will pave way for USD 690 million

IMF representatives and Ukrainian authorities have reached a staff-level agreement on the first review of the four-year, USD 8.1 billion program and have concluded Article IV consultations with Ukraine. If approved by the Executive Board, Ukraine will receive USD 690 million.

It was reported by the NBU press service.

The agreement must be approved by the IMF Executive Board, which will consider it next month.

Subject to the IMF Executive Board’s approval of the review results, Ukraine will gain access to financing of up to 503 million Special Drawing Rights (SDRs) or the equivalent of USD 690 million, in equivalent, which will increase the total amount of disbursements under the program to USD 2.2 billion.

At the same time, the IMF notes in its release that all quantitative performance criteria and indicative targets were met by the end of March, but progress on structural reforms has slowed.

A staff-level agreement was reached following the approval of corrective measures to address deviations, additional policy commitments, and a revised reform schedule.

Discussions during the Article IV consultations focused on measures aimed at stimulating sustainable post-war growth by creating a dynamic market economy. In particular, this involves reforms designed to make the tax system more conducive to economic growth and measures to reduce the large shadow economy.

As a reminder, the International Monetary Fund previously expressed concern about Ukraine’s ability to continue receiving assistance from the USD 8.1 billion package, as the Verkhovna Rada has been delaying the measures necessary to unlock the funding.

In late May, an IMF mission began work in Ukraine on the first review of the 2026 Extended Fund Facility and Article IV Consultations.