The IMF Head about the Ukrainian economy: "A gradual recovery is expected this year"
Georgieva visited Kyiv and met with the leadership of the state
The head of the International Monetary Fund, Kristalina Georgieva, has praised Ukraine's leadership for "impressive economic management in exceptionally difficult circumstances, adapting its policies to overcome large and complex shocks." She said this in a statement following her visit to the country.
Source. This was reported by CNN.
Details. Kristalina Georgieva arrived in Kyiv on Monday, the same day that US President Joe Biden unexpectedly visited the city.
Georgieva met with Ukrainian President Volodymyr Zelenskyy, as well as the Prime Minister, Finance Minister, and Governor of the Central Bank.
She described the Ukrainian economy as "an economy that is functioning despite enormous challenges." She went on to say that "the economy is adapting and a gradual economic recovery is expected during this year."
Georgieva also reiterated the IMF's commitment to Ukraine.
"The international community will continue to play a vital role in supporting Ukraine, including helping to meet the large financing needs in 2023 and beyond."
The visit comes just days after IMF staff and the Ukrainian authorities agreed to begin discussions on a full loan program to support Ukraine's economy, subject to IMF management approval.
The IMF statement said that Ukraine's economy shrank by 30% in 2022, a less severe decline than previously expected, but also described how the near-term outlook has deteriorated, in part due to attacks on critical infrastructure.
Background. Earlier, Georgieva said that Ukraine was a few weeks away from launching a full IMF support program.
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