Ukraine’s international reserves to grow up to $20.7 bln by year-end – NBU

However, in 2019-2020, due to peak payments on external public debt, the balance of payments will be with a deficit, and the international reserves will amount about $20 billion, NBU Governor Yakiv Smolii said at a briefing, an Ukrinform correspondent reported.

"The National Bank expects that in 2018 Ukraine will receive $2 billion from the IMF, as well as loans from the EU and the World Bank. This will provide an opportunity to increase international reserves up to $20.7 billion by the end of this year. However, in 2019 and 2020, due to peak payments on external public debt, the balance of payments will be reduced with a deficit, and the international reserves will be about $20 billion," he said.

He noted that the subsequent delay in implementing the terms of the program of cooperation with the IMF reduced the likelihood of obtaining the funding provided by this program and decreased the number of opportunities to attract debt resources in international capital markets necessary for peak payments on public debt in 2018-2020.

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