Overview
- An IMF mission is working in Kyiv with the government and the National Bank on a prospective Extended Fund Facility covering 2026 to 2029.
- Officials reviewed the draft 2026 state budget with the IMF, with the prime minister expressing hope for a Verkhovna Rada vote by December 2.
- NBU Governor Andriy Pyshnyy said the baseline outlook foresees more than $45 billion in external assistance next year and reported reserves near $50 billion, up from about $29 billion at the start of the full-scale invasion.
- The Finance Ministry cited an unmet external financing need of roughly $61 billion for 2026–2027 and outlined planned 2026 defense spending of over $61 billion, accounting for more than 60% of the budget.
- The NBU warned of record funding needs in 2026, urged mobilization of domestic resources through detinization, and cautioned that higher bank profit taxes could undermine the sector’s support for recovery.