IMF: Ukraine is in currency swap talks with a number of countries to increase reserves

REUTERS

Lipton said a $2 billion currency swap line from the Chinese would help boost reserves to cover three months of exports.

The senior IMF official said Kyiv is in talks with other countries for additional swap lines. He didn't provide details on which countries.

Currency swaps are an essential financial instrument utilized by bank the purpose of which is to replenish foreign exchange reserves.