Ukraine will fully settle with the IMF under the 2018 stand-by program.

Ukraine will fully repay the IMF under the 2018 stand-by program, which amounts to $166M at the current exchange rate, said Economist Oleksiy Blinov. According to him, the payment will be provided from gold and currency reserves (GCR) and can be made without burdening state finances.

At the beginning of 2024, Ukraine’s debt to the IMF will amount to $11.85B. The effective rate for this debt is currently 7% per annum.

Blinov also mentioned another significant milestone: the transfer of the IMF debt burden to the state budget. The old programs were mainly financed by GCR, and starting with the 2020 pandemic, only the Ministry of Finance took money from the IMF.

In 2023, the total repayment of IMF loans amounted to $2.6B and was divided between the NBU and the Ministry of Finance, 64% to 36%. In 2024, the $2.4B will be distributed 40% to 60%.