IMF convinces Ukraine to hike its funding needs projection, Bloomberg reports
The International Monetary Fund (IMF) has convinced the Ukrainian government to raise its projections of the external funding needed through 2027, Bloomberg reported on Sept. 22, citing undisclosed sources.
The IMF reportedly persuaded Ukraine to raise its initial $38 billion estimate to $65 billion after a protracted disagreement on the issue.
Diverging opinions reportedly emerged during IMF staff meetings in Kyiv early September, where discussions focused on Ukraine's external financing needs for 2026–2027.
The resolution was seen as critical for the IMF to consider Kyiv's request for a new loan, as most of the $15.5 billion from Ukraine's current aid package has already been disbursed.
The news comes as President Volodymyr Zelensky met with IMF Managing Director Kristalina Georgieva on Sept. 22 during his visit to New York for the U.N. General Assembly.
Zelensky and Georgieva discussed the "possibilities of using frozen Russian assets for the benefit of Ukraine and all potential avenues of cooperation, including a new program aimed at supporting our country’s resilience in the coming years," the president said on X.
"We agreed on further close cooperation between the Government of Ukraine and the IMF."
Ukraine's agreement to the increased estimate means that the war-torn country must now seek additional financing from international partners as the end of the Russian invasion is nowhere in sight.
As the cost of sustaining resistance against Russia continues to strain Ukraine's and its allies' budgets, Kyiv has urged its partners to take more decisive action in using roughly $300 billion in frozen Russian assets to strengthen Ukraine’s defense and support reconstruction.
