UPDATE 1-Ukraine discusses new four-year lending program with IMF chief, PM says

Ukraine's Prime Minister Yulia Svyrydenko said on Wednesday that she discussed a new four-year lending program for the country with the International Monetary Fund's chief, Kristalina Georgieva. Ukraine has a four-year $15.5 billion program with the Fund, one of the country's key lenders, and the government has already received $10.6 billion.

Ukraine's Prime Minister Yulia Svyrydenko said on Wednesday that she discussed a new four-year lending program for the country with the International Monetary Fund's chief, Kristalina Georgieva. Ukraine has a four-year $15.5 billion program with the Fund, one of the country's key lenders, and the government has already received $10.6 billion. "It is important for us that the next program seamlessly continue the previous one," Svyrydenko, who is visiting the United States, said in a post on X. "We agreed to arrange a new visit from a negotiating team soon, as our government continues implementing the necessary reforms." Central Bank Governor Andriy Pyshnyi said that the main parameters of the program were discussed during the meeting but he gave no specifics. For Ukraine, cooperation with the IMF remains an anchor for its economic policy as the war against Russia drags into its fourth year and the country faces a challenging task to raise money to cover the budget gap next year. The government has prepared a draft 2026 budget, aiming for a deficit of about 18.4% of gross domestic product. Finance Minister Serhiy Marchenko estimated the unfunded gap for the 2026 budget at about $18 billion.