This web page presents information about the work of the IMF in Ukraine, including the activities of the IMF Resident Representative Office. Additional information can be found on the Ukraine and IMF country page, including IMF reports and Executive Board documents that deal with Ukraine.

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At a Glance: Ukraine's Relations with the IMF

  • Current IMF membership: 190 countries
  • Ukraine joined the Fund on September 3, 1992; Article VIII
  • Quota: SDR 1,372.00 million
  • The last Article IV Executive Board Consultation was on April 3, 2017

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News and Highlights

IMF Team and Ukraine’s Authorities Reach Staff-Level Agreement on the First Review of the Stand-By Arrangement


October 18, 2021


In English and Ukrainian 


The statement of Mr. Vahram Stepanyan, the IMF Resident Representative in Ukraine, on the start of the IMF mission


September 21, 2021


In English and Ukrainian 


The International Monetary Fund has appointed Vahram Stepanyan as its Resident Representative in Ukraine


June 30, 2021


In English and Ukrainian 


IMF’s Goesta Ljungman exits Ukraine, assesses last 4 years – the IMF Resident Representative’s farewell interview to Kyiv Post


June 17, 2021


In English


Mr. Goesta Ljungman, IMF Resident Representative in Ukraine: The single most important thing to unleash Ukraine’s growth potential is to strengthen the rule of law and root out corruption


March 30, 2021


In English


In Ukrainian

The statement of Mr. Goesta Ljungman, the IMF Resident Representative in Ukraine, on the completion of the IMF mission


February 13, 2021


In English


In Ukrainian

The IMF’s Fiscal Affairs Department (FAD) mission worked remotely with Ukraine’s Ministry of Finance to assist with strengthening fiscal risk management: the Statement from the Ministry


January 14, 2021


In English


In Ukrainian

The statement of Mr. Goesta Ljungman, the IMF Resident Representative in Ukraine, on the start of the IMF mission for the first review of the SBA

December 18, 2020

In English

In Ukrainian

Ukraine: Technical Assistance Report—A Follow-Up on Distributed Profit Tax, BEPS Implementation, Voluntary Disclosure Program, and Indirect Methods for Determining Taxable Income

November 23, 2020

In Ukrainian

In English

IMF Resident Representative in Ukraine Mr. Goesta Ljungman in his interview to Novoye Vremya Magazine: “The program assumes that the fiscal deficit will be firmly put on a downward path starting in 2021”
November 5, 2020

Central, Eastern, and Southeastern Europe After COVID-19: Securing the Recovery Through Wise Public Investment

September 28, 2020


The COVID-19 pandemic is taking a sizable toll on the outlook for Central, Eastern, and Southeastern Europe. The region is expected to contract by close to 5½ percent in 2020, erasing almost three years of economic progress. To support the recovery and improve living standards, countries could consider spending more on infrastructure, such as roads, schools, hospitals, and digital connectivity.


Learn more

The IMF's Technical Assistance Mission in the field of tax policy has completed its work
Press release of Ukraine’s Ministry of Finance | July 21, 2020

IMF Resident Representative in Ukraine Mr. Goesta Ljungman in his interview to Liga Finance: “It is important that sound monetary and financial sector policies are continued under the new National Bank governor

July 9 2020

Interview with

IMF Resident Representative In Ukraine Mr. Goesta Ljungman participates in the VoxUkraine’s on-line discussion on specifics of COVID-19 related government spending. June 11 2020.

The first interview of the new IMF mission chief to Ukraine: Ivanna Vladkova Hollar talks to Novoye Vremya

June 12, 2020

The IMF Resident Representative in Ukraine Talks to the Alumni Club of the Economic Journalists Program

February 12, 2020


The IMF Resident Representative Mr. Gosta Ljungman met graduates of the Excellence in Economic Journalism Program at the Kyiv School of Economics (KSE). Many of these journalists are accomplished economic reporters with strong track-records of reporting on economic and financial issues in Ukraine.

The discussion focused on how the IMF works, how IMF-supported programs are developed in close collaboration with authorities, how program conditionality works and what the various stages in Fund-supported programs are. The discussion also covered the Fund’s transparency policy and how the organization interacts with media.

The IMF Resident Representative in Ukraine, Mr. Goesta Ljungman, talks to Anriy Yanitsky, the anchor of The Capital, the economic and business program at Espresso TV

December 21, 2019




December 18, 2019

The Ukrainian Week discussed the new International Monetary Fund (IMF) program for Ukraine as well as key challenges for Ukrainian economy with the IMF Resident Representative in Ukraine


IMF Technical Mission to Ukraine

December 17, 2019

The Fiscal Affairs Department's technical mission led by Michelle Stone met in Kyiv the leadership of the parliamentary Budget committee. The team discussed with Ukraine's MPs and the Committee's staff public finance management issues pertinent to the legislature's role in the budget process, parliamentary oversight and best practices to quantify the fiscal cost of legislative proposals. 

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Press Release IMF Mission to Ukraine

November 12, 2019

Mr. Goesta Ljungman, the International Monetary Fund (IMF) Resident Representative in Ukraine, made the following statement today in Kyiv:

“The IMF mission, led by Mr. Ron van Rooden, will start its work in Kyiv this Thursday, November 14, 2019 to continue discussions with the authorities on the new Fund-supported program.”

Пан Йоста Люнгман, Постійний Представник Міжнародного Валютного Фонду в Україні (МВФ), зробив сьогодні у Києві наступну заяву:

“Місія МВФ на чолі з паном Роном ван Роденом розпочне свою роботу в Києві цього четверга 14 листопада 2019 р. для продовження обговорень з представниками влади стосовно нової програми, що підтримуватиметься Міжнародним Валютним Фондом.”

IMF Resident Representative visits Kyiv-Mohyla Academy

November 5, 2019

Mr. Gosta Ljungman, IMF Resident Representative in Ukraine, gave an open lecture to the students of the National University of Kyiv-Mohyla Academy. He presented an overview of the Fund as well as spoke about the policies for stability and growth in Ukraine. Students were interested in discussing the reforms that are needed to foster economic growth in Ukraine.

IMF Resident Representative in Ukraine visits the city of Poltava to witness a health care reform in action, and to meet local business community 

October 29, 2019

Foreign ambassadors reportedly like to spend some of their time outside Kyiv, and the more the better. 

Tired of officialdom, they strive to feel vibes of real Ukraine and to immerse into day to day activities of those who are usually hidden on the other side of figures, graphs, endless conferences and multi-paged reports.

We may also guess if actually this intention drove the International Monetary Fund Resident Representative in Ukraine, Goesta Ljungman, to venture out to Poltava. However, a glance at his packed visit testifies to a plethora of insights the envoy is interested in. Ukrinform has had a rare chance to shadow the dignitary to some of his meetings in Poltava, and has been impressed with the mixture of "act locally, think globally" demonstrated by Poltava audiences.

Continue Reading on UKrinform

Statement on the Supervisory Boards of State-Owned Banks

Kyiv, August 21, 2019

Ukraine’s international partners—staff of the IMF, the World Bank and the EBRD—strongly support the governance reform of the state-owned banks, which is an essential step in improving the performance of Ukraine’s banking system and its overall economy. Key to this reform is the introduction of two-third majority independent supervisory boards, as mandated by the new Article 7 of the Law on Banks and Banking adopted by the Verkhovna Rada last year. These new supervisory boards are expected to take the lead in reforming the state-owned banks, in particular in terms of corporate governance and resolution of non-performing loans. In accordance with the new Article 7, new supervisory boards were nominated by the Cabinet of Ministers earlier this year.

Ukrainian law requires that, as the next step, the National Bank of Ukraine (NBU) formally approves nominations to supervisory boards of banks. Thus, it is the duty of the NBU to conduct a thorough and independent assessment, which includes the application of professional judgment of whether nominees to supervisory boards are qualified and meet all legal requirements. For independent supervisory board members of state-owned banks, these legal requirements as set out in Article 7 also include strict standards on independence and lack of conflicts of interest.

We support the NBU’s responsibilities in this area.

Reassessing the Role of State-Owned Enterprises in the Economy. Presentation of a Paper by the European Department of the IMF

Kyiv, June 19, 2019

On June 19, 2019 staff from the International Monetary Fund presented in Kyiv a study of the role of state-owned enterprises in Central, Eastern and South-Eastern Europe. The event took place on the premises of the Kyiv School of Economics. The study looks at the rationale for state ownership, compares the extent of such ownership in different countries, and analyses the economic impact of the state-owned enterprise and state-owned banking sectors.

The paper—which was prepared in collaboration with EBRD staff—was presented by Peter Dohlman and Christine Richmond, both from the IMF’s European Department. The discussion was moderated by the IMF Resident Representative in Ukraine Gosta Ljungman, and panelists included Oleksandra Betliy (Ministry of Finance’s Chief Economist), Hlib Vyshlynsky (Director of the Centre for Economic Strategy), Volodymyr Vakhitov (KSE), Marina Petrov (Deputy Director of EBRD’s Ukrainian Office) and Andriy Boitsun, (Corporate Governance Advisor with SAGSUR).

The paper can be found here.

See also blog by Poul Thomsen, State Ownership in Europe’s Former Socialist States: The Unfinished Reform Agenda.

The IMF Resident Representative in Ukraine Exchanges Views with Young Journalists

June 07 2019

The IMF Resident Representative Mr. Gosta Ljungman spoke to students at the journalism program at Kyiv School of Economics. The program trains young media professionals pursuing career in economics and business journalism. The dialogue covered IMF’s activities and institutional mandate, its engagement with Ukraine and the Fund’s media relations. The IMF Resident Representative website was featured as an example of a platform that facilitates communication with public and media, and serves as a repository of information on the Fund’s relations with Ukraine.


“The business environment can never be truly sound if corruption is allowed”.  The interview of the IMF Resident Representative in Ukraine, Mr. Goesta Ljungman, to the Financial Club
February 12 2019

In Ukrainian

In Russian



IMF Resident Representative in Ukraine Meets with Graduates from Kyiv School of Economics’ Journalist Program

On January 24, 2019, Gosta Ljungman met with graduates from Kyiv School of Economics’ Journalist Program. Ljungman presented the organization and work of the IMF, and the various types of engagement the IMF has with Ukraine. He discussed the IMF’s assessment of the Ukrainian economy and reform priorities to ensure stability, growth and improved living standards for the population. Ljungman stressed the importance of media in promoting an active and well-informed public debate about economic issues, and gave an overview of the various support the IMF gives to journalistic development. The IMF sought to be as open and transparent as possible, engaging with media in a variety of different forms. Ljungman also shared his personal experience with Ukrainian media—pointing out some risks in the modern fast-paced media climate. Overall, he was impressed with the quality and integrity of economic reporting in Ukraine.

IMF Resident Representative in Ukraine Visits the City of Vinnytsia

On December 7, 2018, the IMF Resident Representative in Ukraine Mr. Gosta Ljungman visited the city of Vinnytsia. During the visit, he met the oblast and city management, the staff of the local district heating company and representatives of business community. The issues discussed during these meetings included the impact of medium term budgeting on municipal finance, and the adjustment of heating tariffs to reflect the recent revision of gas prices. Mr. Ljungman also delivered an open lecture to economics students at universities located in Vinnytsya on the Role of the IMF, and its work in Ukraine. The lecture was followed by an intensive Q&A session, where students inquired about the IMF’s work on reducing income inequality, promotion of growth, and policies to support small and medium-sized business.

IMF Resident Representative in Ukraine visits Bila Tserkva - November 30, 2018

The IMF Resident Representative in Ukraine Gösta Ljungman, together with a team from the IMF’s Fiscal Affairs Department, visited the city of Bila Tserkva in Kyiv Oblast on November 30th. The mission met Mayor Hennadyj Dykyj, his deputy Inna Novohrebelska and CFO Svitlana Tereschuk. The discussion centered on fiscal decentralization, medium-term budget frameworks at the subnational level, performance-based budgeting and policies for utility tariffs.

IMF Resident Representative Gosta Ljungman visits Kyiv-Mohyla University as a guest lecturer. November 20 2018

Mr. Gosta Ljungman, IMF Resident Representative in Ukraine, gave an open lecture to the students of the Economic Department of Kyiv-Mohyla National University. He spoke about the history of the Fund, its composition and organizational structure, types of assistance the organization is providing to its members and, of course, about IMF-supported programs with Ukraine.

On November 13, 2018, IMF Resident Representative Gosta Ljungman presented the latest update of the European Regional Economic Outlook to Ukraine’s economic journalists.

In his presentation, Ljungman pointed out that while economic activity in Europe continued to expand in the first half of 2018, it did so at a slower-than-expected pace. The external environment is becoming less supportive, and is expected to soften even further in 2019, due to slowing global demand, trade tensions and higher energy prices. However, with average growth of 2.3 percent in 2018 and 1.9 percent in 2019, output is above its potential in most European countries. Ljungman also pointed out that risks have increased, including from escalating trade tensions and tightening global financial conditions. He also drew attention to the need to accelerate structural reforms, address demographic challenges and reverse increasing inequalities. Ljungman also discussed policy priorities for different groups of countries. Where there are significant vulnerabilities, countries should focus on reducing public debt and build fiscal buffers to ensure that they have policy space to cope with future down-turns. In contrast, countries with fiscal space and stronger-than-warranted external positions should increase public investment to lift the potential of their economies. Throughout his presentation, Ljungman highlighted the economic outlook of Ukraine, and the specific challenges facing policy makers.

  • Press Release - Mr. Goesta Ljungman, the International Monetary Fund (IMF) Resident Representative in Ukraine, made the following statement today in Kyiv:

    In 2016 Ukraine’s international partners supported the decision of the government and the National Bank of Ukraine (NBU) to nationalize PrivatBank, as the only effective method of protecting the bank’s depositors – the Ukrainian people and businesses – and the stability of the financial system. While this required the injection of about UAH 160 billion in Ukrainian taxpayer funds to restore the bank’s solvency, it secured PrivatBank’s long-term viability, safeguarded the money of millions of Ukrainian citizens, and strengthened the country’s economic health. In light of this, we welcome the reform of PrivatBank’s corporate governance, led by an independent Supervisory Board, and the transformation of its business model, which has already resulted in stronger performance and sustainability of the entire banking system. We continue to support the efforts of the NBU to reform Ukraine’s financial sector, including by introducing prudent corporate governance principles, and the Ministry of Finance’s efforts to reform corporate governance in state-owned banks. It is important that the authorities continue their efforts to recover losses from former owners and related parties of failed banks. Ukraine’s international partners will be closely monitoring developments in this area.

    April 19, 2019

  • Прес-реліз - Пан Йоста Люнгман, Постійний Представник Міжнародного Валютного Фонду (МВФ) в Україні, зробив сьогодні у Києві наступну заяву:

    “У 2016 році міжнародні партнери України підтримали рішення уряду та Національного Банку України (НБУ) націоналізувати Приватбанк, оскільки це був єдиний ефективний засіб захистити вкладників банку – українських фізичних і юридичних осіб – і стабільність фінансової системи. І хоча це рішення потребувало 160 мільярдів гривень українських платників податків на відновлення платоспроможності банку, воно забезпечило життєздатність Приватбанку на довгу перспективу, врятувало кошти мільйонів українських громадян і зміцнило економічне самопочуття країни. З огляду на такі результати, ми вітаємо реформу корпоративного врядування Приватбанку, що її очолює незалежна Наглядова Рада, і трансформацію бізнес-моделі банку, що вже позитивно позначилася на показниках та стійкості банківської систему в цілому. Ми продовжуємо підтримувати зусилля НБУ з реформування фінансового сектору України, включно із запровадженням принципів пруденційного корпоративного врядування, так само як і зусилля Міністерства фінансів, спрямовані на реформування корпоративного врядування у державних банках. Важливо, щоби влада продовжувала свої зусилля щодо відшкодування втрат колишніми власниками та пов’язаними особами проблемних банків. Міжнародні партнери України ретельно відстежуватимуть події в цій сфері”.

    April 19, 2019

  • The Financial Counsellor and Director of the International Monetary Fund’s Monetary and Capital Markets Department visits Ukraine to meet with the principal stakeholders

    January 30, 2019

  • IMF Resident Representative in Ukraine: With Continued Good Policies and Reforms, Ukraine Should See Economic Success (Guest Lecture at Open Ukraine Foundation)

    October 24, 2018

  • Press Release

    Statement by Goesta Ljungman, Resident Representative in Ukraine, on the Next IMF Mission

    August 13, 2018


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Ukraine and the IMF


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Regional Economic Outlook

October 20, 2021

Read the Report