$2.9 billion from Gazprom reach Naftogaz account

UKRAINE - In Brief 27 Dec 2019 by Dmytro Boyarchuk
Gazprom has paid $2.9 billion on the Stockholm arbitration, according to Naftogaz Facebook page. The funds might be reflected as part of gross international reserves which now should touch $26 billion level or 4.1 months of imports. According to the IMF guides “external assets that are readily available to and controlled by monetary authorities for meeting balance of payments financing needs” could be considered as gross international reserves. The funds at the Naftogaz account, strictly speaking, are not ‘controlled by monetary authorities’. But in the past the NBU used to reflect foreign cash at the accounts of state-owned companies as part of gross international reserves.

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