In February, Ukraine’s international reserves decreased by $1.5 billion (3.8%) to $37.1 billion, which shows a rollback to the May 2023 figures.
This was reported by Kommersant Ukrainsky with reference to the NBU press service.
It is reported that the decline in reserves was affected by the NBU’s foreign exchange interventions and payments on the country’s debt payments in foreign currency, which were only partially offset by proceeds from international partners.
In particular, in February, the NBU sold $1.54 billion on the foreign exchange market, while purchasing only $31.9 million in reserves. As a result, the NBU’s net foreign exchange sales in February amounted to $1.51 billion.
The NBU paid over $1.1 billion to service and repay the public debt in foreign currency.
In addition, Ukraine paid $379 million to the International Monetary Fund.
Earlier, IMF Managing Director Kristalina Georgieva said that Ukraine needs $42 billion to cope with economic challenges and consolidate its current successes.