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Photo: National Bank (Vitaliy Nosach, RBC-Ukraine)
Reserves decreased due to large payments on state debt and the unfavorable situation in the foreign exchange market
The size of Ukraine’s international reserves during September 2020 decreased by 8.7% (by -2,523.01 million dollars). As of October 1, the reserves amounted to $ 26,525.74 million.
This was reported on the website of the National Bank of Ukraine (NBU).
According to the BNU, since the beginning of the year, reserves have grown by 4.8% (for $ 1,223.58 million).
As reported by RBC-Ukraine, the Ministry of Finance of Ukraine redeemed the second series of external government loan bonds (OVDP) on September 1, 2020. According to the Finance Ministry, the total amount of the payment amounted to more than $ 2 billion, including $ 1.69 billion: redemption of Eurobonds and $ 400 million in interest payments on Eurobonds due in 2020-2027.
As a reminder, in July, the National Bank of Ukraine (NBU) improved its forecast for the size of international reserves. The NBU predicts the size of Ukraine’s international reserves by the end of 2020 at $ 29.9 billion.
Note that according to the IMF forecast, Ukraine’s international reserves will decline to $ 19.3 billion by the end of 2020 (from $ 25.3 billion in 2019).
