Ukraine and the IMF agreed on a $8.1 billion loan: what reforms await the country

Ukraine's Agreement with the IMF

Ukraine and the International Monetary Fund (IMF) have reached an agreement on a new four-year funding program amounting to $8.1 billion. This agreement opens access for Ukraine to a total of $136.5 billion in financing from international partners. The main requirements of the program include tax reforms, combating tax evasion, and changes in the taxation of digital platforms.

The announcement date of the agreement was November 26. The program amount for 2023 is $15.5 billion, and the EFF program started in the spring of 2023. The need for a new program became evident by the summer of 2025, as the country will need to address critical financial gaps estimated at $19 billion for 2026 and over $40 billion for 2027. This new loan is practically equal to the amount Ukraine must repay to the IMF for previous loans.

Program Requirements and Risks

According to the National Bank of Ukraine, Ukrainians imported packages worth $4.5 billion from January to September 2025. The planned adoption of the budget for 2026 will take place on December 2. As noted by Finance Minister Sergii Marchenko, the EFF program is a 'cornerstone' for international support. IMF representatives have also emphasized the importance of decisive action against corruption amid recent events.

Among the main IMF requirements are tax reforms, which include:

• a revolution in the simplified taxation system,
• new criteria for labor relations,
• the end of duty-free packages.

One of the innovations is the introduction of a tax on income from digital platforms, including OLX. The military tax will remain in Ukraine forever. In addition to tax reforms, efforts to combat corruption and other reforms are also important.

However, despite all efforts, there are risks that could derail the program, requiring special attention from the Ukrainian government and international partners.

This agreement with the IMF is an important step for Ukraine in conditions of economic instability and the need for financial support. Meeting the program requirements, especially tax reforms and fighting corruption, will be critically important for ensuring long-term financial stability in the country. The success of the program may also strengthen the trust of international partners and investors, which is significant for the post-war recovery of Ukraine's economy.