WASHINGTON: Ukrainian President Volodymyr Zelenskiy said he discussed a new financial assistance programme for the war-torn country with International Monetary Fund Managing Director Kristalina Georgieva in a phone call on Thursday.
“We discussed a new programme of financial assistance that will strengthen Ukrainians now and in the post-war period,“ Zelenskiy wrote on the Telegram messaging app ahead of an expected staff visit to Ukraine later this month.
“We are prepared to carry out the necessary steps quickly. The government is already working on this.”
Georgieva confirmed what she called a productive call in a post on X. She said they discussed Ukraine’s economic outlook, the resilience of the Ukrainian people and “the importance of reforms and financial assistance to support Ukraine now and during reconstruction.”
Ukraine’s new prime minister, Yulia Svyrydenko, also spoke with Georgieva earlier this week as Kyiv works to cover a widening budget deficit. Ukrainian authorities have said they could face a shortfall of about $19 billion next year alone.
Ukraine’s current $15.5-billion programme with the IMF expires in 2027.
Officials say the current IMF programme needs to be updated given that Ukraine’s needs have changed as the war drags on. Moscow invaded its smaller neighbour in February 2022.
Svyrydenko appointed a new economic security chief on Wednesday as part of a campaign to strengthen governance, fulfilling a key condition for Kyiv to continue receiving wartime support from Western lenders.
Analysts say Ukraine’s financing gap will widen significantly next year if Russia keeps up its intense attacks across the country and the government fails to act on demands for reform from foreign lenders.
IMF spokesperson Julie Kozack told reporters last month that IMF staff and authorities would intensify discussions about the 2026 budget and Ukraine’s financing needs for the medium term. – Reuters
