Ukraine's New PM Seeks Fresh IMF Loan Amid Protracted War
The newly appointed Ukrainian Prime Minister, Yulia Svyrydenko, says she may seek additional funding from the International Monetary Fund (IMF) to cover fiscal needs amid the protracted war with Russia.
The Gaze reports on this referring to Bloomberg.
As the $16 billion IMF program expires in 2027 and the duration of the war remains uncertain, a new plan is expected to be discussed during the next review.
“If the baseline scenario assumes the war will continue into next year, it is very likely we will have a new IMF program,” Svyrydenko said.
In the coming days, the Prime Minister of Ukraine plans to have a remote conversation with the U.S. Treasury Secretary Scott Bessent, with whom she previously worked on a minerals deal, to discuss possible financial support. She also said that the new cabinet is seeking to cooperate with the US in the purchase of weapons, including Patriot missile systems, and joint production of drones.
In addition to strengthening Ukraine's financial stability, Svyrydenko's key goal will be to increase domestic arms production to reduce dependence on foreign aid and ensure the country's defense.
Ukraine and the IMF plan to conclude a new loan agreement that is expected to be negotiated this year. This will continue the IMF's unprecedented practice of lending to a country at war, which began two years ago with the current agreement.
“Our task is to deliver across most areas within a very short period of time,” Svyrydenko stated.
As The Gaze previously informed, that the Verkhovna Rada of Ukraine has officially appointed Yuliia Svyrydenko as the country’s new Prime Minister.