The Ukrainian economy and public institutions turned out to be much stronger than expected – Rashkovan

Ukraine and Ukrainians are an example of military, economic and institutional resilience for the whole world, as well as the ability to quickly adapt to difficult conditions.

The relevant statement was made by Deputy Executive Director of the International Monetary Fund (IMF) Vladyslav Rashkovan in an interview with Ukrinform.

“Our government, our people surprised the world,” Rashkovan said.

According to him, the latest confirmation is the article by The Economist, in which Ukraine was named Country of the Year.

“Ukraine is an example to the world, not only in terms of resistance to Russian aggression, but also in terms of resilience, that is, sustainability and adaptability in very difficult conditions. That deserves respect,” noted Rashkovan.

According to Rashkovan, he speaks a lot on this topic with employees of the IMF and the World Bank.

“I’m really sad to speak about the war, but I’m proud to speak about the performance of the banking and financial system and the fact that the Single Treasury Account, the Treasury and the government as a whole, Parliament are working,” he said Rashkovan tells.

According to him, the Ukrainian economy has suffered greatly. But despite the wounds and scars of war, public institutions have held out.

“I say to many of our partners: we have been living in the Russian narrative for many years that Ukraine is a corrupt state. But if it had been, Ukraine would have collapsed long ago. Our institutions turned out to be much stronger than expected. Our economy is viable, although of course the losses are huge,” Rashkovan noted.

As a reminder, on December 19, 2022, the IMF Executive Board discussed a management-approved Board-Participated Surveillance (PMB) program for Ukraine. The PMB is designed to help Ukraine maintain stability and catalyze donor funding amid very high balance of payments needs and exceptionally high risks.

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