Ukraine receives a new $500M IMF tranche and requests more time for reforms.

The IMF Executive Board approved an additional tranche to Ukraine under the Extended Fund Facility (EFF). As a result, Ukraine has already received the ninth tranche of approximately $500M under the program. In total, payments under the program amount to $10.6B out of the planned $15.5B for 2023-2027.

“The IMF noted the progress of the Ukrainian side in fulfilling the conditions of the EFF program as of the end of March 2025. The Ukrainian economy remains resilient, and the program implementation indicators stay high, despite the full-scale war,” the Ministry of Finance stated.

The new tranche will be used to cover priority budget needs. It is worth noting that, at Ukrainian authorities’ request, the ninth and tenth reviews of the EFF program, originally scheduled for the end of August and early December this year, were combined into one ninth review, set to take place in the fourth quarter of 2025. The IMF clarified that Kyiv explained this by the desire to align the IMF’s financing with Ukraine’s expected balance of payments needs and to allow more time to advance reforms. As a result, the combined 10th tranche from the IMF program will now total $1.6B.