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The Managing Director, International Monetary Fund (IMF), Ms. Kristalina Georgieva, has reiterated that the Fund will continue supporting Ukraine, including helping to address the large financing needs in 2023 and beyond.
Georgieva stated this during her visit to Ukraine where she met with President Volodymyr Zelenskyy, Prime Minister Denys Shmyhal, Finance Minister Sergii Marchenko, and Central Bank Governor Andriy Pyshnyy recently.
Commending the Ukrainian authorities for their impressive economic management despite the challenging circumstances, Georgieva stated that their vision is to move from recovery to a transformational period of reconstruction and EU accession was commendable.
“During my visit and discussions, I saw an economy that is functioning, despite the tremendous challenges. Shops are open, services are being delivered and people are going to work. This is remarkable testament to the spirit of the Ukrainian people.
Government agencies and economic institutions are working remarkably well: they are collecting taxes and paying salaries and pensions. The banking system is fully operational. Notwithstanding the attacks on critical infrastructure, the economy is adjusting, and a gradual economic recovery is expected over the course of this year”, she said.
According to her, “the IMF’s unwavering commitment to continue supporting Ukraine. In addition to last year’s emergency financing, the IMF has been intensively engaged with the Ukrainian authorities through our Program Monitoring with Board involvement (PMB), which provides a strong anchor for macroeconomic policies and helps further catalyse donor support. Performance under the PMB has been strong, paving the way for discussions on a full-fledged IMF financing program”.
The IMF Director thereafter said the international community will continue to have a vital role in supporting Ukraine, including to help address the large financing needs in 2023 and beyond.
She said, “The war in Ukraine has had far-reaching consequences for the local, regional, and global economy. Only if we work together as a global community will we be able to build a better future.”
