G7 discussing possible $4 bln financial package for Ukraine
The Group of Seven nations, or G7, are discussing a new financial package for Ukraine which could amount to some $4 billion, The Wall Street Journal reported with reference to several officials familiar with the discussions.
The discussions on the new package of assistance picked up in recent days as Kyiv's financial situation has deteriorated.
This issue was on the agenda of a meeting of finance ministry officials from most G7 countries on December 4, one of the officials said.
According to The Wall Street Journal, the incoming German presidency of the G7 plays an important role in marshalling backing for further aid.
"It wasn't clear how quickly any package could go at this stage," the article quoted the official.
As was reported, Ukraine's international reserves, as of December 1, 2014, amounted to $9.97 billion down 20.8%, or $2.62 billion, in November 2014, the National Bank of Ukraine (NBU) said in a report.
The current level is the lowest since December 2004, when the reserves were estimated at $9.715 billion.
Describing the structure of Ukraine's international reserves, the NBU reported that the reserves held in foreign currency decreased by 21.8%, or $2.52 billion, to $9.058 billion, while gold reserves shrank by 8.6%, or $0.085 billion to $0.904 billion.
As was reported, Ukraine has recently received EUR 500 million in micro-financial aid from the EU, while NJSC Naftogaz Ukrainy is to pay Gazprom $1.65 billion by the end of the current month through a special account.
