As of April 1, Ukraine’s international reserves amount to $42.4 billion, according to preliminary data. In March, they increased by 5.6%, reported the press service of the National Bank of Ukraine.
This is reported by Finway
The reasons for this growth include significant inflows from international partners, as well as a decrease in the net sale of currency by the NBU on the foreign exchange market, which fell by 12.5% compared to February.
“This dynamic is driven, on one hand, by significant inflows from international partners, and on the other hand, by a reduction in the net sale of currency by the NBU on the foreign exchange market,” the National Bank explained.
In March, $5.98 billion was credited to the government’s foreign currency accounts at the National Bank, including:
- $5.172 billion from international partners, including under the G7 ERA initiative;
- $409.6 million from the placement of foreign currency government bonds;
- $398.6 million from the International Monetary Fund under the Extended Fund Facility (EFF) program.
Ukraine also received a loan of $970 million under an agreement with the United Kingdom as part of the ERA initiative. It is important to note that these funds were not credited to Ukraine’s international reserves due to their designated purpose.
As part of servicing and repaying the state debt in foreign currency, $786.7 million was paid, of which $729.2 million was paid to the International Monetary Fund.
The National Bank noted that the current volume of international reserves covers 5.2 months of future imports.