Ukraine Foreign Reserves Drop: IMF mission starts work in Kyiv

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07.05.2015
ua_today
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Ukraine's foreign currency reserves have fallen to their lowest level since 2004. The national bank now has USD 7.5 billion in foreign currency, USD 12.9 billion lower than this time last year.

The national bank says its reserves have shrunk because it has transferred billions to state oil company Naftogaz to pay for gas imports. The government has also had to dip into foreign reserves to repay state foreign currency debts.

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