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Ukraine's international reserves in June reach highest level in eight years

Source : 112 Ukraine

“Ukraine’s international reserves in June grew by more than $ 3 billion. Now they amount to more than $ 28.5 billion. This is the highest level of reserves in the last 8 years,” the prime minister emphasized
18:29, 12 July 2020

Ukraine's Prime Minister
Open source

Prime Minister Denys Shmygal said that in June Ukraine’s international reserves reached more than $ 28.5 billion, which is the highest figure in 8 years. This is stated in the message of Shmygal on his Facebook page.

Ukraine’s international reserves in June grew by more than $ 3 billion. Now they amount to more than $ 28.5 billion. This is the highest level of reserves in the last 8 years,” the prime minister emphasized.

He noted that current reserves cover almost 5 months of imports, and this is one of the key factors of macro-financial stability.

As of June 1, 2020, the international reserves of Ukraine amounted to 25 371 800 000 dollars. In May, they decreased by 1.3%.

On June 12, it became known that Ukraine received 2.1 billion of the first tranche from the IMF.

IMF allocates funds to Ukraine under the stand-by program. The program is designed for 18 months with access to 3.6 billion SDR special drawing rights (about $ 5 billion).

Related: Ukraine should think of IMF debt restructuring from the perspective of 'can we do this,' - Parliamentary Speaker

61% of citizens of Ukraine believe that currently, cooperation with the IMF and obtaining loans are inappropriate. Such data was published by the Kyiv International Institute of Sociology according to the results of opinion polls.

In April, the proportion of people who believe that Ukraine needs loans from the IMF decreased by 8% (in June, the share was 24%).

In the first month of summer, the number of people who believe that Ukraine does not need to cooperate with the International Monetary Fund has increased by 15% - from 46 to 61%.

Related: Ukraine must maintain independence of National Bank amid governor’s resignation, - IMF

Compared to April, the percentage of people who think so decreased by eight percentage points (from 32 to 24%). 61% of respondents in June said that it’s better not to cooperate with the IMF and not to get new loans. Compared to April, the percentage of people who think so, increased by 15 percentage points (from 46 to 61%)," the report said.

 

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