Since the beginning of the war, Ukraine has received almost $13 billion in international financial assistance

As of July 26, 2022, international financial assistance to Ukraine reached almost $13 billion, but this was not enough to compensate for the outflow of foreign currency from the country.

According to Ukrinform, this is stated in inflation report for July 2022, prepared by the NBU.

“International financial assistance has become a significant source of foreign exchange earnings for the country. The total amount of such assistance in the 2nd quarter amounted to $6.5 billion, and since the start of a full-scale war, almost $13 billion (as of July 26, 2022),” the statement says. in the document.

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Much of this aid comes in the form of grants, which, together with persistent remittances, a ban on dividend withdrawals, and a reduction in reinvested earnings, has allowed the current account to run into a significant surplus.

However, according to the NBU, the total amount of international assistance was not enough to compensate for the outflow of foreign currency from the country, formed primarily by an increase in cash outside banks and an increase in trade credit debt (in particular, due to logistical difficulties and the unwillingness of exporters to bring revenue into the country).

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As a result, the foreign exchange market was balanced by NBU interventions, so reserves during the second quarter decreased by $5.3 billion. – up to 22.8 billion dollars.

As Ukrinform reported, Prime Minister Denys Shmyhal said that by the end of the year Ukraine would receive about another $20 billion in aid and support from international partners.

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