New PM Svyrydenko seeks fresh IMF loan – DW – 07/22/2025

Ukraine’s new Prime MinisterYulia Svyrydenko said she will likely seek fresh financing from the International Monetray Fund to cushion the country’s fiscal needs in its defense of Russia’s war, according to a report by Bloomberg. 

The report outlined that global donors have so far only earmarked half of the estimated $75 billion (€ 64.18 billion) budget that the war-strained country requires over the next two years.

With the IMF’s roughly $16 billion (€13.69 illion) loan program set to expire in 2027, new discussions will likely be held at a lender’s review planned for August, especially since the end to the war is not in sight, she told the media house.

Meanwhile Ukraine’s Defense Minister took to messaging app Telegram, saying the country will need at least $120 billion (€102.68 billion) for defense spending next year and that negotiations were ongoing with NATO and the EU over $60 billion (€51.34 billion) in funding from partners. 

On Monday, the UK and Germany led a virtual meeting on how to help Ukraine acquire the weapons it needs to defend itself against the Russian aggression. 

German Defense Minister Boris Pistorius said he will “contribute to providing” five Patriot missile defense systemsto Ukraine, DW’s Teri Schultz reported from Brussels. This includes two systems Berlin had previously discussed, with an additional one expected to be financed by Norway. 

It is not clear whether Germany would pay for remaining two defense systems itself, or if it will seek contributions from other NATO members.

Meanwhile, Ukraine’s former prime minister and newly appointed Defense Minister Denys Shmyhal, who was also part of the meeting, said Kyiv needs more than $6 billion (€5.13 billion) worth of additional military spending to increase its own weapons production.

The UK imposed new sanctions on Russia’s so-called “shadow fleet” which will target 135 oil tankers and two Russian companies involved in circumventing oil sanctions on Moscow.

Additionally, Ukrainian President Volodymyr Zelenskyy said Ukraine and Russia will hold another round of talks on Wednesday.

Two previous rounds held in Istanbul failed to yield any meaningful progress on a ceasefire. 

Welcome to DW’s coverage of the latest developments in Russia’s war in Ukraine.

Both Ukraine and Russia continue to exchange drones and missiles, aiming at each other’s capital cities. 

Overnight Monday, Russia unleashed one of its largest aerial assaults on Kyiv, just hours before the UK and Germany chaired a high-level meeting to discuss the US’ plans for NATO allies to provide Ukraine with weapons it needs.

Stay tuned for the latest news and analysis from the ongoing war.