Ukraine's foreign reserves top $30bn
Ukraine’s foreign exchange reserves have exceeded $30 billion, Oleg Ustenko, an adviser to the Ukrainian president on economic issues, said on Sunday.
"Our foreign reserves have reached a decade all-time high of over $30 billion," he told Rada television.
According to the adviser, the amount would be enough to cover more than five months’ worth of Ukrainian imports.
Earlier, the country’s National Bank reported a 3.5 per cent drop in forex reserves in February from the previous months to $28.86 billion. The central bank said this was due to its interventions in the currency market.
Prior to that, the regulator forecast that by 2023 the country’s foreign reserves would reach some $27 billion.
Kiev expects to cover the record budget deficit of $38 billion with foreign borrowings.
Former Ukrainian Prime Minister Nikolay Azarov has warned that Ukraine will cease to exist as a country without Western loans.
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