Ukraine's international reserves in June increased by $5.6 billion, or 12.1%, to $51.3 billion, according to preliminary data, the National Bank of Ukraine (NBU) said on Tuesday.
"In June, they increased by 12.1% due to foreign currency inflows from international partners, which exceeded the net sale of foreign currency by the National Bank and the country's debt payments in foreign currency," the publication says.
According to published data, the government's foreign currency accounts at the National Bank received $11.3 billion in June, including $6.8 billion from the EU and nearly $4.5 billion through World Bank accounts. In addition, Ukraine received $4.4 billion from the European Union as part of the first payment of the first defense tranche under the Ukraine Support Loan program, but these funds were not credited to the country's international reserves due to their restricted (targeted) purpose for use.
At the same time, the government of Ukraine paid $269.7 million for the servicing and repayment of state debt in foreign currency, including $211.5 million for the servicing and repayment of debt to the World Bank, $7.2 million for the servicing of foreign currency domestic government bonds, and $51 million to other creditors.
In addition, Ukraine paid $171.5 million to the International Monetary Fund (IMF).
Foreign currency sales by the National Bank on the foreign exchange market in June amounted to $5.15 million, according to the NBU's balance sheet data.
Revaluation of financial instruments (as a result of changes in market value and exchange rates) and the impact of other factors in June reduced the value of reserves by $191.4 million.
"The current volume of international reserves ensures the financing of 5.2 months of future imports," the National Bank added.
