Economy 2021-10-15T05:32:20+03:00
Ukrainian news
NBU Ready To Buy USD 2.9 Billion Naftogaz Received From Gazprom

NBU Ready To Buy USD 2.9 Billion Naftogaz Received From Gazprom

NBU, Naftogaz, Gazprom

The National Bank of Ukraine is ready to buy the USD 2.918 billion that the Naftogaz of Ukraine national energy company received from the Gazprom gas company (Russia).

The National Bank of Ukraine’s head Yakiv Smolii announced this at a press conference, the Ukrainian News Agency reports.

"We expect the funds that Naftogaz of Ukraine received from Gazprom to be sold and taken into account in the state budget. We will be on the market and buy this currency," he said when asked about the basis for the improvement of the forecast increase of Ukraine’s international reserves to more than USD 29 billion this year.

Smolyi said that Naftogaz of Ukraine sold USD 0.5 billion out of this amount last year.

According to him, Naftogaz of Ukraine will sell the remaining amount because it still has foreign-currency revenues from transit of natural gas.

He added that the signing of a new loan program with the International Monetary Fund (IMF), which will disburse a loan tranche this year, would also increase the country’s international reserves.

In addition, the National Bank of Ukraine expects the Ministry of Finance to enter foreign markets and receive funds from the European Union in the second half of the year.

As Ukrainian News Agency earlier reported, the National Bank of Ukraine expects a new IMF loan program to be approved in the coming months following the adoption of the necessary draft laws by the Ukrainian parliament.

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