17:15 19.12.2018

Ukraine's forex reserves could grow to almost $20 bln as of late 2018 - NBU

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Ukraine's forex reserves could grow to almost $20 bln as of late 2018 - NBU

Ukraine's forex reserves at the end of 2018 could grow to almost $20 billion, the National Bank of Ukraine (NBU) has reported on its website.

"Thanks to the new SBA [Stand-By Arrangement] with a volume of SDRs 2.8 billion (about $3.9 billion), attracting $750 million on the international capital markets thanks to a $750 million guarantee that the Board of Executive Directors of the World Bank, as well as funding from the European Commission in the amount of EUR 1 billion, Ukraine will be able to increase its forex reserves to almost $20 billion by the end of 2018, which exceeds the latest forecast of the National Bank, and to maintain them at the proper level in 2019," the NBU said.

As reported with reference to preliminary data, Ukraine's forex reserves in November 2018 grew by 5.8%, or $974.5 million, to $17.712 billion.

The NBU early November revised downwards the forecast for forex reserves at the end of 2018 to $19.2 billion from $20.7 billion, for 2019 to $18.6 billion from $18.8 billion and for 2020 to $19.1 billion from $19.7 billion.

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