As of the beginning of July, international reserves of Ukraine increased by 520 million dollars and amount to 45.07 billion dollars. During June, reserves increased by 1.2%, informs press service of the National Bank of Ukraine.
The growth is due primarily to receipts from international partners, which exceeded both the net sale of foreign currency by the NBU and the volume of payments on external public debt. According to the regulator, this amount of reserves is sufficient to maintain the stability of the foreign exchange market.
Among the main factors that affected the dynamics of reserves were receipts on government accounts and settlements on debt obligations. In particular, in June, Ukraine received $4.09 billion within the G7 Extraordinary Revenue Acceleration for Ukraine (ERA) initiative: $1.69 billion from the Canadian government, $1.25 billion through World Bank accounts, and $1.15 billion from the European Union.
At the same time, Ukraine made payments for servicing and repayment of the state debt in the total amount of 524 million dollars. Of these, 226.8 million dollars were sent to the World Bank, 4.7 million dollars to the EBRD, 4.3 million dollars to servicing foreign currency bonds, 1.6 million dollars to the EU, and another 286.6 million dollars to other international creditors. In addition, $426.2 million was paid to the International Monetary Fund.
In the foreign exchange market, the National Bank sold 2.96 billion US dollars and bought only 1.3 million for reserves, giving net sales of 2.95 billion dollars for June. In addition, reserves increased by $337.8 million due to revaluation of financial instruments due to changes in market value and exchange rates. The current level of international reserves allows to cover 5.6 months of future imports.
