Ukraine’s international reserves grew by $974 million

Международные резервы Украины выросли на $974 млн

In NBU reported that international reserves grew

As of December 1, the volume of international reserves cover three months of future imports.

International reserves of Ukraine in November increased by 5.8% to $17.7 billion in comparison with October. On Wednesday, December 5, reported the press service of the National Bank of Ukraine.

It is noted that international reserves grew in November for $974,5 million to $17.7 billion as of 1 December 2018.

The volume of international reserves increased due to raising funds by the government, and also as a result of purchases of foreign currency by the national Bank on the interbank market.

It is noted that the government received $2 billion from Eurobond issue and us $82.9 mn from the sale of bonds of internal state loan. The payments on the national debt was less than the proceeds from the sale of government securities.

In particular, in November the government and the national Bank paid in favour of the International monetary Fund $439,1 million (equivalent).

Other payments from the government for servicing and repayment of public debt in foreign currency amounted to $238,2 million equivalent, of which $149,1 million of government bonds of internal state loan and $18.5 million in Eurobonds.

As of December 1, 2018, the volume of international reserves covers 3 months of future imports is sufficient to meet the obligations and current operations of the government and the National Bank.

Earlier, the IMF reported that the current level of international reserves of Ukraine are insufficient to sustain macro stability.

We will remind, in October the international reserves of Ukraine grew by 0.6%.

 

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