Page 44 - UKRRptDec20

of Luhansk region​, the Bank Board voted November 5. “Thousands of people in conflict-affected communities will benefit from Reconnect, Recover, Revitalize project investments,” said Arup Banerji, World Bank Regional Director. Implying that more Donbas lending will follow, he said: “This is the first loan in the World Bank’s portfolio, targeted to help the Government of Ukraine deliver on its commitment to outreach and development support for conflict-affected populations.”
6.2 ​Debt
Ukraine’s faces $14.5bn of redemptions in 2021 of which $11bn debt repayment bulge in repayments next fall​, and Arakhamia tells Interfax-Ukraine that he hopes a Biden Administration will roll over the $1bn bond coming due in September. “We hope that with the arrival of the new White House administration, we will be able to agree with our strategic partners on refinancing this loan,” Arakhamia tells the news agency. Ukraine’s international reserves are $24.5bn. Total debt repayment in 2021 is $14.4bn.
7.0​ FX
Helping Ukraine’s balance of payments, migrant workers sent home $1bn in September, up 6% over August​, TSN reported, citing new National Bank of Ukraine numbers. Despite the obstacles created by the fight against coronavirus, Ukraine’s migrants workers sent home $8.5bn through September, about 5% below the level of last year.
The scandal over the Constitutional Court is affectng the exchange rates. Ukraine’s central bank sold $150mn in the first week of November to defend the hryvnia. The national currency is slowing devaluing, trading at 28.57 to the dollar as of November 6.
Ukraine FX
Jan 2020
Feb 2020
Mar 2020
Apr 2020
May 2020
Jun 2020
Jul 2020
Aug 2020
Sept 2020
Oct 2020
Nov 2020
Dec 2020
Currency (units per EUR) (average)
26.78
26.84
29.34
29.54
29.16
30.03
31.32
32.55
33.03
33.35
33.53
Currency (units per USD) (average)
24.12
24.58
26.52
27.18
26.77
26.79
27.33
27.52
28.02
28.33
28.31
44​ UKRAINE Country Report​ December 2020 ​ ​www.intellinews.com