The IMF mission arrives in Kyiv for first review of EFF loan program

Representatives of the International Monetary Fund (IMF) arrived in Kyiv on May 27 for the first review of the multi-billion dollar loan program for Ukraine.

This is stated in a statement by the Foundationʼs permanent representative in Ukraine Priscilla Tofano.

An IMF mission led by Gavin Gray has begun meetings with Ukrainian officials and other partners. This is the first review under the four-year, $8.1 billion Extended Fund Facility (EFF).

According to Tofano, the negotiations will focus on two areas: macroeconomic policy (how Ukraine manages finances, inflation, and the budget) and key structural reforms (changes in the economy and public administration that the IMF requires as a condition for financing).

In parallel, the mission is conducting consultations under Article IV of the IMF Agreements — this is an annual standard procedure for assessing the countryʼs economic condition.

• At the end of February 2026, the IMF Board of Directors approved a new four-year, $8.1 billion Extended Fund Facility for Ukraine. However, to receive further financing under the program, Ukraine must fulfill a number of obligations, including the adoption of four tax bills.
• In April, deputies approved one of them, extending the military levy at a rate of 5% for three years after the war. And bill No. 15111-d on taxation of digital platforms — the “OLX tax” — was supported in the first reading.
• Among other IMF demands is to cancel VAT exemptions for individual entrepreneurs with a turnover exceeding 4 million hryvnias, but this demand was postponed. And the day before the IMF mission arrived, on May 26, MPs defeated a bill on VAT on parcels up to €150.

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