NBU believes that international reserves can be significantly increased thanks to the concentration of foreign aid revenues.
In the March-April period, Ukraine could receive approximately 10 billion dollars from Western partners. This issue is discussed in the Central Bank’s message dated March 14.
According to the regulator, there remains a risk of not being able to secure the required amount of international financing, but there is a positive trend in this regard.
Among other things, the Central Bank recalled the decision of the Council of the European Union at the end of February, which helped launch the Ukraine Instrument for a total of 50 billion euros for 2024-2027. Accordingly, our country needs to receive a total of 4.5 billion euros in transition financing in March.
Additionally, Ukraine managed to reach a staff-level agreement with the International Monetary Fund that provided for the third revision of the program. The Board of Directors is expected to make a decision within a week.
It is stated that Ukraine’s state budget could receive more than ten billion dollars in March and April. Increasing flows of foreign aid in the near future will contribute to a significant increase in the volume of international financing.
During today’s briefing, NBU Deputy Chairman Sergei Nikolaychuk said Ukraine expects to receive 4.5 billion euros from the European Union, $1.5 billion from Canada, $1.5 billion from the World Bank and $900 billion from the IMF in March. He said he was waiting. Additionally, the EU will provide 1.5 billion euros in April.
It is worth noting that in July last year, Ukraine’s reserves reached a historical record of $41.7 billion, but then started to decline. However, the partners’ foreign exchange earnings in December contributed to their growth again.
Let us remind you that on December 11, it was announced that Ukraine would receive a slice of 900 million dollars from the IMF.
Source: Focus
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