Ambassadors from the G7 nations held talks this week with an International Monetary Fund (IMF) mission led by Gavin Gray to assess Ukraine’s economic outlook, macro-financial stability, and structural reform progress.
During the meeting, G7 representatives reaffirmed their ongoing support for Ukraine, emphasizing that implementing reforms to enhance financial resilience and meet EU standards remains a primary priority.
The IMF mission, which began its work in Ukraine on Aug. 31, is currently conducting meetings with government officials and other stakeholders to evaluate the domestic economy and verify compliance with existing cooperation agreements.
In June, Ukraine and the IMF reached a staff-level agreement regarding the first review of the four-year, $8.1 billion Extended Fund Facility (EFF) program. This agreement is intended to facilitate a subsequent funding tranche of approximately $690 million.
Ongoing IMF loan program and economic outlook
The current discussions follow a July assessment of the $8.1 billion EFF program, during which the IMF reported total disbursements to Ukraine had reached approximately $2.2 billion.
At that time, the IMF determined that Ukraine had maintained broad macroeconomic and financial stability despite the ongoing Russian invasion.
However, the organization noted that the country’s economic outlook had weakened, attributing the decline to intensified Russian strikes on critical infrastructure and the external economic spillovers of the war in the Middle East.
While the IMF characterized Ukraine’s overall performance under the program as “broadly satisfactory,” it observed that the implementation of several structural benchmarks had been delayed or missed.
In response, IMF Managing Director Kristalina Georgieva stated that maintaining macroeconomic stability remains Ukraine’s immediate priority, calling for the government to maintain prudent fiscal and monetary policies alongside measures to safeguard the financial sector.