16:34 12.07.2018

NBU lowers forecast of forex reserves in 2018 by almost $1 bln

1 min read
NBU lowers forecast of forex reserves in 2018 by almost $1 bln

The National Bank of Ukraine (NBU) has lowered the forecast of international reserves by the end of 2018 to $20.7 billion from $21.6 billion, according to the Central Bank website.

The main reason for the revision is a reduction in expectations regarding receipts from the placement of Ukraine's of eurobonds to $1.5 billion from $2.5 billion, Deputy Governor of the National Bank of Ukraine Dmytro Sologub said at a briefing in Kyiv on Thursday, July 12.

At the same time, the National Bank expects that the necessary reforms will be implemented, and in 2018 Ukraine will receive about $2 billion in a disbursement from the International Monetary Fund, as well as loans from the European Union and the World Bank.

In addition, the forecast for the country's forex reserves for 2019 is reduced to $18.8 billion from $19.1 billion, for 2020 to $19.7 billion from $20 billion.

"Due to peak payments on foreign public debt in 2019 and 2020, the balance of payments will see a deficit and the international reserves will be somewhat reduced," the central bank said.

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