Speaking during Question Time in the Verkhovna Rada on September 19, Marchenko announced that negotiations on the new program began earlier this month.
“In total, the funds needed to finance the four-year program could amount to between $150 billion and $170 billion,” he said.
For 2026 alone, Ukraine’s uncovered need for external financing is $18.1 billion, based on an average annual exchange rate of 45.7 hryvnias (UAH) to the dollar. The draft state budget for 2026 sets the total external financing requirement at 2.079 trillion UAH — about $45.5 billion at the planned exchange rate.
The current IMF Extended Fund Facility, approved in March 2023, provides $15.6 billion in direct IMF financing and projected a total of $115 billion in international support under a baseline scenario and $140 billion under a negative scenario. These figures were later revised to $153 billion and $165 billion, respectively.
Earlier, the IMF warned that Ukraine’s financing needs over the next two years could be $20 billion higher than government estimates, underscoring the strain of Russia’s ongoing war on the country’s economy.