Germany issues ultimatum to secure Ukraine funding
Chancellor Friedrich Merz threatens to withhold agreement on EU’s next budget unless bloc can unanimously agree on additional financial support for Kyiv
Ukrainian Prime Minister Serhiy Koretsky met with IMF Director Mateusz Szczurek and an IMF mission to initiate the second and third reviews of the Extended Fund Facility (EFF) program, which seeks to secure $1.67 billion in external financing, according to the Ukrainian Cabinet of Ministers' Secretariat. Koretsky stressed the importance of agreeing on key indicators and financing amounts while ensuring the budget is balanced, addresses wartime challenges, and funds state priorities.
Discussions focused on fiscal policy, financial sector development, measures to eliminate economic shadow, the 2027 state budget draft parameters, and securing 2027-2028 external financing. The teams from the Finance Ministry and National Bank of Ukraine, along with IMF representatives, will collaborate on technical and expert work.
The Verkhovna Rada previously approved the 2027 draft state budget in its first reading, with the executive authorities planning to finalize and submit it for second reading, incorporating IMF consultation results. Koretsky expressed gratitude to the IMF for its ongoing support of Ukraine and affirmed the government's willingness to work closely with the fund.
Written by urgent.news from Interfax-Ukraine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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