In September, Ukraine officially requested a new cooperation program from the IMF for the coming years (the current $15.5 billion program ends in 2027). A decision by the IMF Board of Directors is expected by the end of the year. No official details have been released yet .

The situation with the implementation of the indicators of the Ukraine Plan in general also does not look very good. The EU Council finally approved the amendments to the Plan, but we have indicators that we should have implemented in the Q1 2025, but they still remain unfulfilled. In addition, due to the fact that one of the indicators was moved forward in implementation to an earlier date, it is now also included in the list of “unfulfilled” indicators. There is still no information in the public space about the report submitted by Ukraine on the implementation of the indicators of the Ukraine Plan for the Q2 2025, which automatically delays the adoption of a decision on the allocation of funds in exchange for reforms from the EU.

According to the September 2025 report of the Accounting Chamber, Ukraine’s untimely fulfillment or incomplete fulfillment of obligations under the Ukraine Facility and the IMF led to a shortfall of 4.5 billion euros in January-June of this year.