Ukraine Seeks New IMF Loan Program as War Costs Mount

Ukraine has formally requested a new financing program from the International Monetary Fund as the war with Russia continues to strain its finances, Prime Minister Yulia Svyrydenko said on Tuesday. About 60% of Ukraine’s budget is devoted to the war effort, while Western aid remains essential to cover pensions, public sector wages, and humanitarian needs. “Active hostilities continue, and our draft state budget for 2026 has been prepared with the understanding that the war is far from over,” Svyrydenko wrote on X. She said she submitted an official request during a meeting in Kyiv with Gavin Gray, head of the IMF’s monitoring mission, and noted that talks will continue “with the goal of securing a positive decision from the IMF Board of Directors by the end of this year.” Ukraine has already received USD 10.6 billion under its existing USD 15.6 billion Extended Fund Facility, but Svyrydenko did not specify how much Kyiv is seeking under the new plan.