Ukraine's failure to meet monetary targets and structural-reform commitments caused the EFF to be suspended or its disbursements delayed several times.
The EFF expired in September 2002, and the government of Ukraine and the IMF began discussions the following month on the possibility and form of future programs.
[6] Among other effects, this led to a 50-percent increase on household natural gas utility prices in July 2010 for Ukrainian consumers (a key demand of the IMF in exchange of the loan).
[9] In December 2013, Ukrainian Prime Minister Mykola Azarov noted "the extremely harsh conditions" of a renewed IMF loan presented by the Fund on 20 November of that year.
The conditions, which included steep budget cuts and a 40-percent increase in natural-gas bills, were the last argument supporting the Ukrainian government's decision to suspend preparations to sign the Ukraine–European Union Association Agreement on 21 November, 2013.
Anders Aslund, a former economic adviser to the Ukrainian government, believed that Ukraine's expenses could be reduced by two percent of its gross domestic product if gas subsidies were halted.
[33] On 21–29 May, 2019, an IMF mission led by Ron van Rooden visited Kyiv to discuss recent developments and economic policies regarding the Fund.
[36] After the September visit, the IMF said: "Growth is held back by a weak business environment—with shortcomings in the legal framework, pervasive corruption, and large parts of the economy dominated by inefficient state-owned enterprises or by oligarchs—deterring competition and investment".
[37] In order to qualify for the loan deal Ukraine's parliament had voted to lift a ban on the sale of farmland and approved a new banking law (which was designed to prevent Ihor Kolomoiskyi and Hennadii Boholiubov from regaining control of PrivatBank).
[38] On 5 March, 2022, the International Monetary Fund said it anticipated to forward Ukraine's request for $1.4 billion in emergency finance to its board for approval as soon as next week.