The National Bank of Ukraine considers it necessary to initiate a new long-term program with the IMF, which will better address the economic challenges associated with prolonged security risks and significant state defense expenditures. As noted by NBU Deputy Governor Serhiy Nikolaychuk, the ninth review of the current EFF program, scheduled for 2026, may prove too complicated under current conditions. Therefore, the optimal solution is to develop a new program with a broader time horizon.
This is reported by Finway
Main Objectives of the New IMF Program
According to Nikolaychuk, the future program should focus on creating favorable conditions for Ukraine’s economic recovery, concentrating on eurointegration reforms. At the same time, a key task remains ensuring macroeconomic and financial stability, as well as consolidating support from international partners for financing the budget deficit and defense needs. The IMF, he said, should play a leading role in coordinating these efforts.
Due to prolonged high security risks and significant defense expenditures, the ninth review of the current EFF program in 2026 is significantly complicated, so a new, longer-term program is more appropriate, explained NBU Deputy Governor Serhiy Nikolaychuk.
Plans for the Next Review of Cooperation with the IMF
After the eighth review of the EFF program in June, the ninth and tenth reviews have been combined into a single ninth review, which is planned for the fourth quarter of 2025. NBU Chairman Andriy Pyshnyy reported that in the coming weeks, an IMF mission is expected to arrive in Kyiv to assess the need for a new program and prepare for the combined review. This is set to be an important step for further economic development and financial stability in Ukraine.