Ukraine’s international reserves fell significantly in July

As of August 1, Ukraine’s international reserves amounted to $43.03 billion, which is 4.5% less than a month earlier.

The National Bank reported this.

The decrease in reserves is due to the NBU’s foreign exchange interventions and payments on government debt. These expenses were partially offset by receipts from international partners and the placement of foreign currency government bonds. The NBU notes that, despite the decline, the volume of reserves remains sufficient to maintain stability in the foreign exchange market.

In July, the NBU sold $3.46 billion worth of currency on the market.

Receipt of currency into government accounts:

• $1.17 billion – EU aid under the G7 initiative (ERA);

• $513.2 million – from the IMF (EFF program);

• $414 million – placement of foreign currency government bonds;

• $23.9 million – through World Bank accounts.

At the same time, Ukraine paid $793 million to service and repay the national debt in foreign currency:

• $638.5 million – in foreign currency government bonds;

• $85.1 million – on external bonds;

• $61.2 million – to the World Bank;

• $7.1 million – to the EU;

• $1.1 million – to other creditors;

• $2.6 million – payment to the IMF.

Additionally, the revaluation of financial instruments added $101.5 million to the reserves.

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