Gradual recovery in Ukraine's economy expected over this year: IMF chief

By Ovunc Kutlu

ISTANBUL (AA) - A gradual recovery in Ukraine's economy is expected over the course of this year, according to the International Monetary Fund's (IMF) Managing Director Kristalina Georgieva.

"The banking system is fully operational. Notwithstanding the attacks on critical infrastructure, the economy is adjusting," Georgieva said Tuesday in a statement at the conclusion of her visit to Ukraine. "Government agencies and economic institutions are working remarkably well: they are collecting taxes and paying salaries and pension."

"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," she added.

After meeting Ukrainian President Volodymyr Zelenskyy and other officials, Georgieva said their vision is to move from recovery to a transformational period of reconstruction and EU accession.

"In my meetings, I reiterated the IMF’s unwavering commitment to continue supporting Ukraine ... 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 added.

Ukrainian Prime Minister Denys Shmyhal on Monday said Kyiv hopes to have a multi-year support program of at least $15 billion from the IMF after meeting with Georgieva.