IMF Persuades Ukraine to Accept $65 Billion Foreign Funding Estimate
Ukraine's government has agreed with the International Monetary Fund on a foreign funding estimate of $65 billion through 2027, instead of its earlier $38 billion estimate. The new estimate has been shared with the European Commission. Ukraine's current IMF program expires in 2027, as it battles Russia's invasion.
The International Monetary Fund has successfully convinced Ukraine's government to revise their foreign funding estimate to $65 billion through 2027, a significant increase from Kyiv's previous $38 billion figure. This development was reported by Bloomberg News on Monday, following discussions between Kyiv and the IMF.
The updated funding requirement has already been communicated to the European Commission, although talks regarding the size of a new IMF loan to Ukraine, likely around $8 billion, have yet to be formally discussed. The reliance of Kyiv on international financial support remains critical as it continues to prioritize its extensive war budget directed against Russia.
Ukraine's current financial arrangement with the IMF, valued at $15.5 billion, is set to conclude in 2027. Meanwhile, the Finance Minister, Serhii Marchenko, announced last week the country's intention to secure a new four-year lending program amid ongoing conflict. Both the IMF and Ukrainian authorities have refrained from commenting, with Reuters unable to verify Bloomberg's claims independently.
(With inputs from agencies.)
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