WASHINGTON (Reuters)

Ukrainian President Volodymyr Zelenskiy discussed a new financial assistance program for Ukraine during a call with IMF Managing Director Kristalina Georgieva on Thursday.

Zelenskiy stated, “We discussed a new program of financial assistance that will strengthen Ukrainians now and in the post-war period,” via the Telegram messaging app, ahead of an anticipated staff visit to Ukraine later this month. He added, “We are prepared to carry out the necessary steps quickly. The government is already working on this.”

Georgieva confirmed the productive nature of their call, noting they discussed Ukraine’s economic outlook, the resilience of the Ukrainian people, and the crucial role of reforms and financial assistance to support Ukraine both now and during reconstruction.

Ukraine’s newly appointed prime minister, Yulia Svyrydenko, also engaged with Georgieva earlier this week as Kyiv seeks to address a growing budget deficit, expected to reach about $19 billion next year.

Currently, Ukraine has a $15.5 billion program with the IMF, set to expire in 2027. Officials mention that this program requires updating due to changing needs amidst the ongoing conflict, which began when Russia invaded Ukraine in February 2022.

Svyrydenko appointed a new economic security chief on Wednesday to bolster governance, a vital step to ensure Kyiv continues receiving wartime support from Western lenders. Analysts warn that Ukraine’s financing gap may expand significantly next year if Russia maintains its aggressive attacks and the government does not meet reform demands from international lenders.

IMF spokesperson Julie Kozack indicated last month that IMF staff and authorities would enhance discussions regarding the 2026 budget and Ukraine’s medium-term financing requirements.