Government burns reserves to pay down debt

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Ukraine’s international reserves fell from $22 billion in September to $21.44 billion this month, or a 2.6 percent decrease, due to significant expenditures on state debt, reports the National Bank.

Last month, the Government and the National Bank paid nearly $2 billion to meet its obligations: $1.22 billion to service Eurobonds, $560.9 million to the IMF. Some of this was offset by the successful placement of $546.9 million worth of bonds.

Read also: Ukraine’s state debt grew by almost $2 bln in one month

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