23:41 14.09.2017

NBU expects $2 bln from IMF, rise in intl reserves to $20 bln by late 2017

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NBU expects $2 bln from IMF, rise in intl reserves to $20 bln by late 2017

The National Bank of Ukraine (NBU) keeps its forecast for the growth of the country's international reserves to $20 billion by the end of this year, from $18 billion at the beginning of September, based on the inflow of $2 billion from the International Monetary Fund (IMF) and $600 million from the European Union in the remaining months, head of the central bank Oleh Churiy has said.

"We expect payments of up to $800 million by the end of the year - the principal amount plus interest, while maintaining our forecast for raising reserves to $20 billion," he said at a press conference in Kyiv.

Churiy said by now the amount of reserves has decreased from $18 billion, which it was equal to at the beginning of the month, due to payments of $500 million of interest on eurobonds and about $100 million of interventions in the foreign exchange market.

At the same time, he added the National Bank expects a positive impact on the dynamics of reserves following the results of a road show of the new issue of Ukraine's eurobonds, which is currently under way, finding it difficult to name the volume of attraction.

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