Ukraine's international reserves grow 21.6% in August - National Bank of Ukraine
KYIV. Sept 4 (Interfax) - The National Bank of Ukraine's international reserves grew in August by $2.24 billion, or by 21.6%, to $12.62 billion, the bank said on its official website.
Hence, the volume of Ukraine's international reserves reached the level of October 2014.
It was reported that the August growth in international reserves was mostly due to the receipt of $1.7 billion as the second tranche of the International Monetary Fund's Extended Fund Facility (EFF).
The EFF program envisions that Ukraine's gross international reserves should grow to $18.3 billion by the end of 2015, which would be equivalent to 3.7 months of imports, and to $22.3 billion in 2016 (4.2 months of imports). The international reserves are expected further to grow to $28.5 billion in 2017, to $35.2 billion in 2018, and to $38.4 billion in 2019, a level at which their amount would stabilize as equivalent to 5.4 months of imports.
National Bank of Ukraine Chair Valeria Hontareva said on August 4 that Ukraine's international reserves would reach "nearly $18 billion" by the end of 2015.
