14:51 21.01.2021

NBU expects Ukraine's forex reserves to remain at about $30 bln – NBU head

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NBU expects Ukraine's forex reserves to remain at about $30 bln – NBU head

The National Bank of Ukraine (NBU) expects the preservation of Ukraine's international reserves at about $30 billion, Governor of the NBU Kyrylo Shevchenko has said.

"Thanks to funding from the International Monetary Fund (IMF) and other partners, Ukraine will be able to maintain international reserves at about $30 billion, despite the significant volumes of external debt repayment," he said during a press briefing on monetary policy by the NBU.

He noted that the NBU expects funding from the International Monetary Fund under the current Stand-By Arrangement, as well as official funding from the EU, the World Bank and other international partners.

According to him, this funding will cover a significant part of the budgetary needs in 2021.

As reported, the international reserves of Ukraine in 2020 increased by 15% and as of January 1, 2021 amounted to $29.1 billion.

 

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