Ukraine: Eighth Review Under the Extended Arrangement Under the Extended Fund Facility, Requests for Modification of Performance Criteria, Rephasing of Access, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Alternate Executive Director for Ukraine

IMF Staff Country Reports, June 30, 2025

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Ukraine: Eighth Review Under the Extended Arrangement Under the Extended Fund Facility, Requests for Modification of Performance Criteria, Rephasing of Access, and Financing Assurances Review-Press Release; Staff Report; and Statement by the Alternate Executive Director for Ukraine

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Bibliographic details

• Published: June 30, 2025
• Series: IMF Staff Country Reports
• DOI: https://doi.org/10.5089/9798229014861.002

Overview

• Publication date: June 30, 2025
• This paper presents Ukraine’s Eighth Review under the Extended Arrangement under the Extended Fund Facility, Requests for Modification of Performance Criteria, Rephasing of Access, and Financing Assurances Review.
• Ukraine’s economy remains resilient, and the authorities met:
  • all end-March and continuous quantitative performance criteria,
  • the prior action, and
  • two structural benchmarks for the review.

Major findings and priorities

• Fiscal and debt sustainability and support for growth require:
  • progressing with domestic revenue mobilization,
  • strengthening the investment climate,
  • improving governance, and
  • completing the debt restructuring strategy.
• The full and timely disbursement of external support during the program period is indispensable for macroeconomic stability.
• Sustained progress in anticorruption and governance reforms remains crucial.
• Monetary and exchange rate policy guidance:
  • maintaining a tight monetary stance to tackle still-elevated inflation and ensuring inflation expectations remain anchored,
  • fostering greater flexibility in the exchange rate to enable it to play a shock-absorbing role, help prevent external imbalances, and safeguard reserves.

Performance criteria, actions, and reforms

• Quantitative and institutional performance:
  • All end-March and continuous quantitative performance criteria were met.
  • The prior action was met.
  • Two structural benchmarks for the review were met.
• Reform emphasis:
  • domestic revenue mobilization,
  • investment climate improvements,
  • governance enhancements,
  • debt restructuring completion,
  • anticorruption reforms.

Subject classification and keywords

• Subject: Budget planning and preparation, Debt sustainability, Expenditure, External debt, Inflation, Prices, Public financial management (PFM)
• Keywords: action plan for customs reform, budget declaration, Budget planning and preparation, Debt sustainability, draft medium-term action plan, draft plan, Europe, Inflation, staff appraisal

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  • 1ukrea2025002-print-pdf (Markdown version)
  • 1ukrea2025002-print-pdf (PDF)