Ukraine's Foreign Exchange Reserves increase to 13.4 billion dollars

As of January 2016, the international reserves of the National Bank of Ukraine (NBU) have increased from 100 million dollars to 13.4 billion dollars.

This was reported by the head of the NBU, Valery Gontareva, at a parliamentary meeting held in Kiev on Wednesday.

“We haven’t lost a single penny of our stocks in January, which is a good sign,” she said.

Gontareva originally predicted reserve growth this year to be between 15 and 18 billion dollars.  However, this prediction failed due to the pause in financing by the Extended Fund Facility (EFF) of the International Monetary Fund (IMF).

She mentioned that new forecasts predict that due to the continued cooperation of the IMF and other international financial institutions, the reserves at the end of this year will amount to up to 19.6 billion dollars.

According to information received by Interfax from the NBU, the data reported describes the situation as of the 29th of January 2016.

As of the 1st of December 2015, Ukraine’s international reserves amounted to 13.148 billion dollars.

  Ukraine, Economy of Ukraine