KYIV (Reuters) – Ukraine’s international reserves grew to an 11-year high of $31.9 billion at the start of April thanks to foreign aid, lower demand for hard currency and moderately-sized payments on government debt, the central bank said on Thursday.
Ukraine faces an unprecedented budget deficit this year due to high military spending to fight off Russia’s invasion and it relies heavily on foreign financial aid to be able to fund public and humanitarian needs.
The central bank said it had received a total of $5.1 billion from Ukraine’s international partners, including funds from the United States, the European Union and Canada.
“This is the highest level in the past 11 years. The last time the reserves exceeded this mark was in Nov. 2011,” the bank said in a statement on its website.
The government paid $486.8 million to service its foreign debts in March. The amount included $409.3 million in interest payments…
Read More
