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Economy 2019-01-15T04:53:18+02:00
Ukrainian news
NBU Not Expecting Next IMF's Tranche In 2017, Worsens International Reserves Forecast To USD 18.6 Billion At E

NBU Not Expecting Next IMF's Tranche In 2017, Worsens International Reserves Forecast To USD 18.6 Billion At End Of 2017

The National Bank of Ukraine does not expect any tranche of the International Monetary Fund in 2017 and has worsened the international reserves forecast to USD 18.6 billion in the end of 2017.

The National Bank of Ukraine announced this in a statement, Ukrainian News Agency reports.

"The NBU expects that next EFF tranche will be received in Q1 2018. Along with a surplus of the overall balance of payments, this is expected to drive international reserves up to USD 22.2 billion or 4.2 months of future imports by the end of 2018," reads the statement.

Due to the delay of the tranche the National Bank of Ukraine has worsened the international reserves forecast from USD 20 billion to USD 18.6 billion in the end of 2017.

The central bank believes that the current account deficit will continue to hover around USD 4 billion in 2017 - 2019. According to the NBU, it will be fully offset by financial account inflows.

The NBU says the overall balance of payments surplus will make USD 2.2 billion in 2017-2018.

The NBU says further cooperation with the International Monetary Fund is a key factor for its macroeconomic forecasts.

As Ukrainian News Agency earlier reported, international reserves of the National Bank of Ukraine rose in September by 3.3% to USD 18.6 billion.

In 2016, international reserves of the National Bank rose by 17% to USD 15.5 billion.

The central bank expects international reserves to grow to USD 20.8 billion by the end of 2017. The NBU expects that next EFF tranche will be received in Q1 2018. Along with a surplus of the overall balance of payments, this is expected to drive international reserves up to USD 22.2 billion or 4.2 months of future imports by the end of 2018.         

 

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