Page 41 - UKRRptFeb21

government spent an equivalent of $311.4mn on the servicing and repayment of FX public debt. That includes the $197mn that went towards the servicing and repayment of domestic government debt securities, and the $66.4mn that was spent on the servicing of Eurobonds. The rest of the funds went to meet the government’s other FX commitments. At the same time, the government received $48.2mn in FX inflows from the placement of domestic government debt securities.
Second: Early January saw little activity in the FX market, which is typical for that time of the year. The NBU made several interventions to sell a total of $20mn and buy $40mn in order to smooth out exchange rate fluctuations in the FX market. In the last two weeks of January, the FX market was balanced, and so the central bank did not intervene.
Third: The revaluation of financial instruments (due to changes in their market value and exchange rate fluctuations). Last month, the value of these instruments declined by an equivalent of $68.7mn.
International reserves now cover 4.7 months of future imports, sufficient for Ukraine to meet its commitments, and for the government and the NBU to make their current transactions. Data on international reserves and FX liquidity are compiled and published on a monthly basis: for preliminary data, no later than on the seventh day after the reporting month ends for revised data, no later than on the 21st day after the reporting month ends.
The National Bank of Ukraine (NBU) expects the preservation of Ukraine's international reserves at about $30bn​, Governor of the NBU Kyrylo Shevchenko has said.
The international reserves of Ukraine in 2020 increased by 15% and as of January 1, 2021 amounted to $29.1bn.
"Thanks to funding from the International Monetary Fund (IMF) and other partners, Ukraine will be able to maintain international reserves at about $30bn, despite the significant volumes of external debt repayment," he said during a press briefing on monetary policy by the NBU.
He noted that the NBU expects funding from the International Monetary Fund under the current Stand-By Arrangement, as well as official funding from the EU, the World Bank and other international partners.
41​ UKRAINE Country Report​ February 2021 ​ ​www.intellinews.com