Ukraine gross foreign reserves fall 4.6% m/m in June

Ukraine gross foreign reserves fall 4.6% m/m in June



8 липня 2014 года
Конкорд Капитал

Ukraine’s gross international reserves in June fell USD 816 mln to USD 17.1 bln (2.4 months of future imports), according to a National Bank of Ukraine (NBU) report released on July 7. Ukraine received nearly USD 1.0 bln in funding from the EU at the same time that USD 2.0 bln was spent for external debt repayment and servicing (including USD 1.0 bln on Eurobonds and USD 193 mln in IMF redemptions).



Alexander Paraschiy: The government had to cover USD 1.0 bln Eurobonds in June, which was one of the largest external liabilities for the year. The next large redemption will be in September or October – USD 1.6 bln on Naftogaz Eurobonds. During all other months this year, we anticipate gross reserves building up, owing to continued cooperation with the IMF, which is scheduled to provide USD 1.4 bln tranches in July and September. We project gross reserves increasing to USD 20.5 bln (2.8 months of imports) by the end of 2014.

Источник: Конкорд Капитал

Аналитик: Александр Паращий
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