Ukraine's gold and foreign exchange reserves decreased by another 15% in January
Berlin - Kyiv, February 11 (PolitNavigator, Vasily Ablyazimov) - Ukraine's gold and foreign exchange reserves again exceeded the historical minimum, having decreased by another 15% in January alone, they report German economic news.
Subscribe to the news "PolitNavigator - Kyiv" in Facebook, Classmates or In contact with
“In January, Ukraine’s gold and foreign exchange reserves decreased by 14,8%, reaching $6,42 billion. Payment of gas bills at the state oil company Naftogaz and foreign exchange interventions in the market in an attempt to stop the devaluation of the hryvnia are the reasons for another decrease in the strategic reserve,” the publication reports.
German economic news clarifies that the $6,42 billion figure is not entirely accurate, as the country's cash and foreign exchange reserves amount to only $5,4 billion. The rest is gold reserves and securities. In December, gold and foreign exchange reserves dropped by $2,4 billion, and amounted to about $7,5 billion at the beginning of the year. According to calculations by German Economic News, the decline over two months was 24,4%.
This rate of decline in gold and foreign currency reserves will lead as early as next month, or at most in April, to the inability to secure the country’s debt obligations even for a period of one month.
If you find an error, please select a piece of text and press Ctrl + Enter.
Thank you!
Now the editors are aware.