The International Monetary Fund (IMF) Board of Executive Directors’ meeting on the first review of Ukraine’s Extended Fund Facility (EFF) is currently scheduled for July 20, Finance Minister Serhiy Marchenko announced during government question hour in the Verkhovna Rada on Friday.
“All documents necessary for the IMF Board of Directors meeting have been submitted. The option of holding the meeting on July 20 is currently being considered. This means that all documents, everything required by the government and the president, have been prepared to ensure we receive the appropriate funds following the first review of the program,” the minister said.
Commenting on the timing of the adoption of the bill abolishing exemptions on international parcels, the Minister of Finance noted that this document is important and relevant. He clarified that this issue is a condition not only for cooperation with the IMF but also for the provision of macro-financial support, which parliament ratified a month ago, and therefore the Ministry expects active discussion among members of parliament.
Meanwhile, the issue of introducing a mandatory value-added tax (VAT) for small businesses (SMEs), which currently do not pay it, has been postponed for now. According to Marchenko, further voting dates on this decision will be determined based on available resources and the military situation at the front.
As reported, on June 12, 2026, Ukraine and the IMF reached a staff-level agreement (SLA) on the first review of the four-year EFF program, paving the way for the disbursement of a second tranche of approximately SDR 503 million ($690 million). Commitments under the program include, among other things, eliminating the VAT exemption for international parcels valued at up to EUR 150, as well as reforming the simplified tax system to curb abuses and eliminate disguised employment.
During a briefing on June 25, Fund spokesperson Julie Kozack said that the IMF Board of Executive Directors would consider in the coming weeks the completion of the first review of Ukraine’s Extended Fund Facility (EFF) and the disbursement of a second tranche of approximately $690 million.