Page 21 - Ukraine OUTLOOK 2024

• 2.5 Gross International Reserves
Ukraine’s international reserves reached $40.5B as of January 1, 2024. In December 2023, foreign exchange reserves increased by 4.4% compared to November due to foreign exchange inflows from international partners that exceeded the net sale of currency by the NBU and the country's debt payments in foreign currency.
Thanks to the international assistance, Ukraine managed to rebuild its international reserves during 2023 and had a comfortable level of over five months of import cover as 2023 drew to an end. As of 1 December 2023, Ukraine had $38.78bn in international reserves, preliminary data show.
The NBU calculated how much international reserves Ukraine will require to maintain a positive balance in foreign trade. International reserves, which Ukraine accumulated during the year thanks to financial support from its partners, will be enough for more than five months of future imports.
In November, international reserves fell by 0.5%. NBU interventions to maintain exchange rate sustainability were largely offset by aid inflows from international partners, as were the country's debt payments.
Since the beginning of the year they have increased by more than half from $18.32bn.
21 UKRAINE OUTLOOK 2024 www.intellinews.com