Ukraine’s international reserves increased to $18.5 billion by the end of February from $18.443 billion at the beginning of the month, Oleh Churiy, the deputy head of the National Bank of Ukraine (NBU), has said.
“Today the reserves are approximately $18.5 billion, taking into account those interventions to buy foreign currency, which the NBU conducts almost daily,” he said during a monetary briefing in Kyiv.
Acting Head of the National Bank Yakiv Smolii, in turn, noted the victory of Naftogaz Ukrainy in Stockholm arbitration is although a positive factor for the dynamics of the country’s forex reserves, but the main source of their replenishment is cooperation with the International Monetary Fund (IMF) and other financial organizations.
“We cannot now say how Naftogaz will use the funds it has not yet received but only won in court. Therefore the continuation of cooperation with the IMF and obtaining next tranches is a prerequisite for replenishing foreign exchange reserves,” he said.
