: :inin Kyiv (EET)

Ukraine’s International reserves shrink to $7.5 billion

Ukraine’s gold and forex reserves have decreased by $2.433 billion, to $7.533 billion in December 2014, according to the National Bank of Ukraine statement posted on its website.
“According to the preliminary data, as of January 1, 2015 Ukraine’s international reserves amounted to $7.533 billion,” reads the statement.
This reduction of reserves is accounted for the payments of NJSC Naftogaz of Ukraine for natural gas imported in November-December 2014 in the amount of $1.65 billion.
The NBU interventions on foreign currency sale cost $831 million, reads the statement.
The statement also said that payments on repaying and servicing public debt in foreign currency, including to the International Monetary Fund, were made in December 2014, timely and in full, and they amounted to $738 million.
But the revenues of foreign currency in favor of the Ukrainian government amounted to $767 million: from the European Commission ($617 million), the International Bank for Reconstruction and Development ($20 million), as well as from the placing of government bonds denominated in foreign currency ($130 million).
As reported, as of December 1, 2014 Ukraine’s international reserves amounted to $9.966 billion.
Head of the National Bank of Ukraine Valeria Hontareva considers reserves of $15 billion as optimal.

News and Summaries

Submit a Comment

Your email address will not be published. Required fields are marked *

Pin It on Pinterest

Share This

Share this post with your friends!