Ukraine’s international reserves may grow to $19.2 bln in Q4 2018 – NBU

Ukraine’s international reserves may grow to $19.2 bln in Q4 2018 – NBU

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Ukrinform
The National Bank of Ukraine (NBU) expects that Ukraine’s international reserves will grow to USD 19.2 billion in the fourth quarter of 2018, the press service of the central bank reports.

“The National Bank has revised the forecast of international reserves. As stated during the previous NBU press briefing on monetary policy, as of October 25, 2018, the amount of reserves at the end of this year depends primarily on the amount of tranche under the new cooperation program with the International Monetary Fund, loans from other official lenders and the amount of Eurobond placement by the government.

Taking into account these factors, including the recent placement of Eurobonds by the government, the National Bank expects that international reserves will grow to USD 19.2 billion in 2018 (or 3.2 months of future imports),” reads the report.

The National Bank added that the continued cooperation of Ukraine with the International Monetary Fund will help keep international reserves at virtually the same level in 2019 - 2020, despite the period of public debt repayments.

As reported, Ukraine’s international reserves in late September decreased to USD 16.6 billion, which ensures financing of 2.8 months of future imports.

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