government regulation

Ukraine to activate swap line of $2.4 blb with China


Ukraine will activate a swap line of $2.4 billion with China, according to a report from Governor of the National Bank of Ukraine Valeriya Gontareva.

"Now we're activating a swap line of $2.4 billion with China, which could be used to finance trade contracts. All this [general external support] will allow us to considerably increase our forex reserves and stabilize the situation in the economy," reads the report posted on the NBU's Facebook page.

"We don't predict hryvnia devaluation in the future, and with the stabilization of the situation we even hope that it will strengthen in the medium-term outlook. I'm optimistic about the future," reads the report.

Source: Interfax-Ukraine

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