Ukraine's international reserves increased significantly over the month to $43.8 billion: NBU explains by financing from partners

Ukraine's international reserves rose to $43.8 billion at the beginning of April, up 18% over the month, the National Bank of Ukraine reported on Friday, UNN reported.

Details

"As of April 1, 2024, Ukraine's international reserves, according to preliminary data, amounted to USD 43,762.7 million. US DOLLARS. In March, they increased by 18%," the NBU said.

The NBU attributed this development to significant (over USD 9 billion) inflows from international partners, which exceeded the NBU's net foreign currency sales and the country's foreign currency debt payments.

As indicated, the government's foreign currency accounts with the National Bank received more than $9.316 billion. Of this amount:

• USD 4.901 billion - the first tranche of transitional financing under the Ukraine Facility from the EU;
• 1.626 billion from the World Bank under the guarantees of Japan and the United Kingdom;
• more than $1.471 billion from Canada;
• USD 880.7 million from the IMF;
• USD 286.2 million - from the placement of foreign currency domestic government bonds (OVDPs);
• USD 118.2 million - grant funds from Japan received through the World Bank;
• 32.4 million in grant funds from Serbia.

The NBU paid $363.5 million for servicing and repaying the public debt in foreign currency. In addition, Ukraine paid $728.5 million to the IMF, the NBU said.

At the same time, the NBU reportedly sold more than USD 1.813 billion on the foreign exchange market and bought back USD 25.9 million to its reserves. Thus, the NBU's net sales of foreign currency in March amounted to almost USD 1.788 billion.

"The current volume of international reserves provides financing for 5.8 months of future imports," the NBU said.

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