08 December 2022, Thursday, 16:33 497

NBU Expecting International Assistance Of More Than USD 31 Billion At Year End

Редактор: Tetiana Herasimova

The National Bank expects that the volume of international assistance at the end of the year will amount to more than USD 31 billion.

This is stated in the NBU message, Ukrainian News Agency reports.

It is noted that in the second half of 2022, international partners significantly expanded financial support for Ukraine, which was a significant factor in maintaining macro-financial stability.

At the end of this year, the volume of international assistance is expected to exceed USD 31 billion.

International financial assistance needed to finance budget deficits and economic recovery will come in 2023.

In particular, preliminary agreements have already been announced on the provision of EUR 18 billion by the European Union, as well as about USD 10 billion by the United States.

As this year, it is expected that a significant share of these funds will come in the form of grants, which will not increase Ukraine's debt burden in the post-war period.

In addition, progress has been made in negotiations with the International Monetary Fund to conclude a new monitoring program with the involvement of the IMF Council.

The final approval of this program will contribute to raising funding from other international donors in 2023.

The National Bank expects that after the completion of the monitoring program, Ukraine will be able to access the extended financing program.

The main risks for economic development are the longer term of Russia's full-scale military aggression, as well as the further intensification of terrorist attacks against critical infrastructure facilities.

The risks to the economy remain heightened.

At the same time, the threat of termination of the "grain corridor" and the risks of lack of external financing, in particular, due to the confirmation of the obligations of international partners and successful negotiations with the IMF, decreased.

The NBU's smaller currency sales interventions and higher than predicted in October, the actual level of international reserves reduced risks for maintaining exchange rate stability and controlling price growth rates.

As Ukrainian News Agency earlier reported, previously the National Bank reported that an agreement was reached at the personnel level on the conclusion of a monitoring program by Ukraine with the International Monetary Fund with the involvement of the Fund's council.

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