Finance Minister Marchenko believes Ukraine can continue working under current IMF arrangement, but does not rule out new one

Ukraine can continue cooperation with the International Monetary Fund (IMF) within the framework of the current arrangement, but there is still a possibility that a new one will need to be formulated, Finance Minister Serhiy Marchenko said.

"I would not announce a new arrangement, because we do not yet have a clear definition of whether there will be a new arrangement or whether we can act under the current one. There are different combinations, different options. There is a possibility that we will continue working under the current arrangement, a fairly high probability. But there is a possibility that we will need to formulate a new arrangement," he said during the presentation of the Government Action Plan on Monday.

According to the minister, the total budget deficit for 2026 is estimated at $42 billion. At the same time, the amount of funds that have already been contracted to finance the deficit is about $35 billion.

"As you understand, this is not enough, so we need to mobilize efforts now, including negotiation efforts, in order to close 2026. Why are we talking about closing 2026 and 2027? Because by closing 2026 and not thinking about 2027, we can actually simply use the entire resource that is valuable to us in 2026," he noted.

Marchenko also added that in this regard, Ukraine is convincing partners of the need for a two-year technical perspective.

He stressed that Ukraine is fulfilling all its obligations under the cooperation with the fund. "We have already had eight reviews, we have fully fulfilled all our obligations, and to date, we have fulfilled almost all that we had to fulfill," the minister said.

Earlier, on August 7, Ukrainian President Volodymyr Zelenskyy held a conversation with IMF Managing Director Kristalina Georgieva, during which the parties discussed a new program of financial assistance for Ukrainians, as well as additional funding for Ukrainian military personnel.

As reported, there have been recent statements about the possibility of a new arrangement with the IMF, since the current 4-year EFF program for $16 billion ends in the first quarter of 2027. According to Prime Minister Yulia Svyrydenko, a new arrangement is needed in the event of a protracted war.

Dragon Capital also assumes a new program with the IMF in its forecasts.