(Reuters) -The International Monetary Fund has persuaded Ukraine’s government to accept the fund’s $65 billion estimate of foreign funding needed through 2027 compared to Ukraine’s earlier $38 billion estimate, Bloomberg News reported on Monday, citing people familiar with the matter.
They agreed after talks between Kyiv and the Washington-based lender and the figure has been shared with the European Commission, according to the report.
The size of a new IMF loan to Ukraine, though not formally discussed, has been estimated at about $8 billion, the report added.
Ukraine’s current $15.5 billion programme with the IMF expires in 2027.
Kyiv is spending about 60% of its budget on its war effort against Russia and relies heavily on financial support from its Western allies to cover the cost of pensions, public sector wages and humanitarian spending.
Last week, Ukraine’s Finance Minister Serhii Marchenko said that the country was seeking a new four-year lending programme from the IMF as the country battles Russia’s invasion.
Reuters could not immediately verify the report. The IMF did not immediately respond to a request for comment. Authorities in Kyiv could not be immediately reached for comment.
(Reporting by Ananya Palyekar in Bengaluru; Editing by Cynthia Osterman)
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