Ukraine’s foreign currency reserves have reached almost $39 billion, a record high for the country, Andriy Pyshnyy, the governor of the National Bank of Ukraine, Ukraine’s central bank, said in a post on Facebook on July 6.
“This is an incredible result for the country in the context of a full-scale war,” Pyshnyy wrote.
“This support is not charity, it is a well-thought-out decision that takes into account Ukraine’s ability to ensure the efficiency of the financial sector, fulfill its obligations, and continue to implement the necessary reforms.”
Pyshnyy said that in June alone the government received $1.6 billion from the Eureopean Union, $1.2 billion from the United States, $69.1 million from the World Bank, and $15 million from the Finnish government.
“In summary, the receipts from international partners remained significantly higher than the NBU’s interventions to sell foreign currency and the country’s debt payments in foreign currency,” Pyshnyy said.
“This level of reserves strengthens the NBU’s ability to continue to maintain exchange rate stability.”
Ukraine recently successfully passed the first review of the Extended Fund Facility program withthe International Monetary Fund and received the second tranche of the program worth $880 million.