REUTERS
The volume of foreign currency reserves of Ukraine is sufficient to fulfill its liabilities and carry out current operations of the government and the National Bank of Ukraine, according to the report of analysts of Da Vinci AG, who have examined the current state of the foreign exchange reserves of Ukraine.
According to the report, in the first quarter of 2015 Ukraine's foreign exchange reserves demonstrated mixed trends. In the first two months, forex reserves continued declining, while in March they increased after the disbursement of $4.872 billion by the IMF and CAD 200 million by the government of Canada.
According to the NBU, the volume of foreign exchange reserves in Ukraine in January amounted to $6.419 billion, $5.625 billion in February, and $9.969 billion in March.
The amount of payments carried out by the government and the National Bank of Ukraine on repayment and servicing sovereign and publicly guaranteed debt in foreign currency amounted to equivalent of $906.9 million, including $221.9 million to the International Monetary Fund.
"Thus, despite the increase in foreign currency reserves, it is necessary to acknowledge the continuing high pressure on reserves in relation to sovereign debt, as well as the continuing negative economic climate with regard to Ukraine. However, the volume of foreign currency reserves of Ukraine is currently sufficient to fulfill its liabilities and carry out ongoing operations of the government and the National Bank of Ukraine" the statement reads.