Business news from Ukraine

Ukraine’s international reserves in March, according to preliminary estimates of the National Bank of Ukraine (NBU), increased by 18%, or $6.7 billion – to $43 billion 762.7 million.

“Such dynamics is due to significant (more than $9 billion) volumes of receipts from international partners, which exceeded the net sale of currency by the National Bank and the country’s debt payments in foreign currency,” the NBU website explained on Friday.

In addition, the National Bank noted that $9.32 billion was transferred to foreign currency accounts of the Cabinet of Ministers in March, while $363.5 million was paid for servicing and repayment of the state debt.

As the regulator noted, Ukraine also paid $728.5m to the International Monetary Fund.

Among other factors determining the volume of reserves, the NBU named operations on the foreign exchange market: in March, the regulator’s net sale of foreign currency amounted to $1.79bn, which is 18.5% more than in the previous month.

According to balance sheet data, the NBU sold $1.81 bln on the foreign exchange market and bought $25.9 mln in reserves.

The central bank also indicated that the current volume of reserves was positively affected by the revaluation of the value of financial instruments, adding $266.3 million.

“The current volume of international reserves provides funding for 5.8 months of future imports,” the regulator stated.

As reported, the NBU in January reduced the forecast of Ukraine’s international reserves at the end of 2024 to $40.4 billion from $44.7 billion and to $42.1 billion from $45 billion at the end of 2025. Earlier, Experts Club analytical center and Maxim Urakin released a video analysis of how the GDP of the world’s countries has changed in recent years, more detailed video analysis is available here – https://youtu.be/w5fF_GYyrIc?si=BsZmIUERHSBJrO_3 Subscribe to Experts Club YouTube channel here – https://www.youtube.com/@ExpertsClub