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Thursday, August 17, 2017

NBU reports international reserve stock at $7.5 billion

The National Bank of Ukraine (NBU) released preliminary data that puts the international reserve stock at $7.5 billion as of Jan. 1.

The report said this number was impacted by the necessary payment that was made to Naftogaz for the importation of natural gas. Approximately $1.65 billion was set aside from the reserve to settle gas bills from Gazprom OJSC for the gas that had been imported between November and December 2013. Additionally, the NBU sold $831 million worth of foreign exchange as an intervention measure.

The Ukrainian government and the NBU were successful in repaying and servicing the country's foreign currency deficit, which included installments due to the International Monetary Fund.

The country has received $617 million from the European Commission and $20 million from the International Bank for Reconstruction and Development, along with funds that were raised by the sale of domestic bonds, which equaled $130 million.

Organizations in this story

International Monetary Fund 700 19th Street, N.W., Washington, D.C. - 20431

National Bank of Ukraine 9 Instytutska St., Kyiv 01601

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