NBU governor predicts growth of international reserves to USD 30B

NBU governor predicts growth of international reserves to USD 30B

The National Bank of Ukraine (NBU) expects funding from the International Monetary Fund (IMF) and other partners to increase Ukraine's international reserves up to USD 30 billion, despite significant external debt repayments.

NBU Governor Kyrylo Shevchenko said this at a briefing on Thursday, January 21, an Ukrinform correspondent reports.

“Cooperation with the Fund remains an important signal for foreign investors. It will significantly simplify access and reduce the cost of planned government involvement in foreign markets. Thanks to funding from the IMF and other partners, Ukraine will be able to maintain international reserves at about USD 30 billion, despite significant amounts of external debt repayment," Shevchenko said.

As Ukrinform reported, Ukraine's international reserves at the end of 2020 increased by 15% and as of January 1, 2021 reached USD 29.133 billion (in equivalent).

According to the forecast of the Finance Ministry, Ukraine will spend UAH 585.13 billion to service and pay public debt in 2021.


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