Ukraine's international reserves, which shrank in 2011 from $34.6 billion to $31.8 billion, could fall to $24.4 billion at the end of 2012, the International Monetary Fund (IMF) has said.
According to its estimates released on Saturday, July 7, after the conclusion of the 2012 Article IV Consultation with Ukraine, reserves will fall to 2.6 months of imports of goods and services, compared to 3.6 months at the end of 2011 and 4.2 months of imports at the end of 2010.
The IMF also said that in relation to short-term debt, Ukraine's international reserves this year could fall to 39.6%, from 55.2% in 2011 and 71.5% in 2010.
The fund added that these projections are based on the assumption that lending under the stand-by the program will continue to be frozen.
According to IMF projections, Ukraine’s net international reserves will amount to $13.6 billion at the end of 2012 compared to $17.6 billion at the end of 2011 and $20.3 billion at the end of 2010.
