Weekly Insight -- NBU reserves boosted by foreign aid
The NBU gross international reserves spiked 18% in March and 8% YTD to US$43.8bn as foreign partners provided a record volume of new loans to Ukraine.
The largest credit facilities provided to Ukraine in March included a EUR4.5bn tranche from the EU, US$1.6bn loan from Japan, US$1.5bn from Canada, and US$0.9bn from the IMF. Meanwhile, the NBU spent US$1.8bn in FX interventions to keep the hryvnia exchange rate under control. Also, Ukraine repaid US$1.0bn in external loans over the month, mostly to the IMF.
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