The International Monetary Fund has reached a staff-level agreement with Ukraine on a proposed Extended Fund Facility worth more than US$8 billion. The arrangement is intended to support macroeconomic stability, debt sustainability, and external financing amid the ongoing war with Russia. The IMF stated that Russia’s war continues to have a significant impact on Ukraine’s economy and population. Ukrainian authorities have maintained their commitment to preserving macroeconomic stability and restoring debt sustainability and external viability.
The agreement outlines a set of fiscal and monetary policies designed to underpin a program aimed at achieving these objectives. The program is expected to catalyse large-scale external support to address Ukraine’s financing gaps. The IMF’s Gavin Gray confirmed that the team had conducted discussions with Ukrainian authorities between 17 and 21 November 2025, in response to a formal request for a new extended fund facility.
The proposed facility follows eight successful reviews under Ukraine’s most recent IMF program. Ukrainian authorities believe the new Extended Fund Facility will provide a strong foundation for their medium-term economic plans. The IMF noted that risks to Ukraine’s economy remain very high due to uncertainty over the duration and intensity of the conflict, as well as the level of future international support. The agreement still requires approval by the IMF’s executive board.