During recent meetings in Washington, representatives of the Ukrainian government and the International Monetary Fund noted significant progress in negotiations regarding a new funding program for Ukraine. However, as emphasized by the head of the IMF’s European Department, Alfred Kammer, there are still many issues that need to be resolved, particularly concerning financial guarantees for the future program.
This is reported by Business • Media
Key Aspects of the New IMF Program
The head of the National Bank of Ukraine, Andriy Pyshny, stressed that the new cooperation program with the IMF for 2026–2029 should logically continue the current program, which was launched in March 2023 and has already demonstrated its effectiveness for both Ukraine and the Fund itself. According to Pyshny, it is important for the new program to take into account the ongoing war and the high level of uncertainty characteristic of the current situation.
“We also hope that it will be based on a decision to open a reparations loan for Ukraine,” added Pyshny.
Discussion on the Hryvnia Exchange Rate and the NBU’s Position
According to Bloomberg, the IMF insists on the need for a controlled devaluation of the hryvnia as one of the key mechanisms for stabilizing the economy. The Fund believes that this will help increase budget revenues denominated in the national currency and strengthen the country’s financial stability. At the same time, the National Bank of Ukraine refrains from such a step, citing potential risks for inflation and public opinion.