Ukraine has increased its international reserves to a record high.

Ukraine’s international reserves grew by 18% in March and amounted to $43.8 billion as of April 1, the National Bank reported. The regulator explained that the $9 billion increase was due to the volume of receipts from international partners, which exceeded the NBU’s net sale of foreign currency and the country’s debt payments in foreign currency. Thus, the government’s foreign currency accounts at the NBU received $9.31 billion:

  1. 4.9 billion from the EU (under the Ukraine Facility);
  2. 1.62 billion from the World Bank;
  3. $1.5 billion from Canada;
  4. $880.7 million from the IMF;
  5. USD 286.2 million from the placement of foreign currency domestic government bonds;
  6. $118.2 million in grants from Japan;
  7. 32.4 million in grant funds from Serbia.

The government paid $363.5 million for servicing and repaying the public debt in foreign currency. In addition, Ukraine paid $728.5 million to the IMF. In March, the NBU’s net sales of foreign currency amounted to $1.8 billion. The reserves were also affected by the revaluation of financial instruments, which increased their value by $266.3 million.

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