Ukraine's reserves grew by $5 billion after falling for four months in a row
Date: 2024-09-09 Author: Alexei Fomin Categories: ECONOMY
The reserves grew thanks to assistance from the EU and the US.
The reserves grew after falling for four months in a row. Since the beginning of the year, the reserves have increased by 4.5% (by $1.823 billion).
As noted by the press service of the NBU, the increase in reserves was due to significant volumes of receipts from international partners, which exceeded the net sale of currency by the NBU and the country's debt payments in foreign currency.
In particular, $8.465 billion was received into the government's foreign currency accounts at the NBU. Of this amount:
$4.553 billion - from the European Union within the Ukraine Facility instrument;
$3.899 billion - from the World Bank (grant from the USA).
$724.1 million was paid for servicing and repaying the public debt, of which:
$266.0 million - servicing and repaying the debt to the World Bank;
$239.9 million - payments related to the execution of transactions (OZGP);
$130.1 million - payments on government derivatives;
$88.1 million - payments to other international creditors.
In addition, Ukraine paid $392.4 million to the International Monetary Fund.
In August, the NBU sold $2.696 billion on the interbank market, which is 18.4% less than in July.
Also in August, due to revaluation, the value of financial instruments increased by $443 million.
Ukraine's international reserves in March 2024 increased to $43.763 billion - a record level in the history of Ukraine. After that, the reserves decreased.
In July, the NBU worsened its forecast for reserves at the end of 2024 from $43.4 billion to $41.2 billion, at the end of 2025 from $44.3 billion to $37.3 billion, and at the end of 2026 from $39.3 billion to $32.0 billion.
The reserves grew after falling for four months in a row. Since the beginning of the year, the reserves have increased by 4.5% (by $1.823 billion).
As noted by the press service of the NBU, the increase in reserves was due to significant volumes of receipts from international partners, which exceeded the net sale of currency by the NBU and the country's debt payments in foreign currency.
In particular, $8.465 billion was received into the government's foreign currency accounts at the NBU. Of this amount:
$4.553 billion - from the European Union within the Ukraine Facility instrument;
$3.899 billion - from the World Bank (grant from the USA).
$724.1 million was paid for servicing and repaying the public debt, of which:
$266.0 million - servicing and repaying the debt to the World Bank;
$239.9 million - payments related to the execution of transactions (OZGP);
$130.1 million - payments on government derivatives;
$88.1 million - payments to other international creditors.
In addition, Ukraine paid $392.4 million to the International Monetary Fund.
In August, the NBU sold $2.696 billion on the interbank market, which is 18.4% less than in July.
Also in August, due to revaluation, the value of financial instruments increased by $443 million.
Ukraine's international reserves in March 2024 increased to $43.763 billion - a record level in the history of Ukraine. After that, the reserves decreased.
In July, the NBU worsened its forecast for reserves at the end of 2024 from $43.4 billion to $41.2 billion, at the end of 2025 from $44.3 billion to $37.3 billion, and at the end of 2026 from $39.3 billion to $32.0 billion.
