Govt capitalizes Naftogaz with UAH 8.9 bln in April - NBU
The Finance Ministry of Ukraine issued government domestic loan bonds worth UAH 8.9 billion in April to increase the charter capital of national joint-stock company Naftogaz Ukrainy, the National Bank of Ukraine (NBU) reported on Wednesday.
According to the report, last month the NBU bought government bonds worth UAH 7 billion, and since early 2015 the central bank bought bonds worth UAH 34.4 billion.
The bonds were transferred to Naftogaz Ukrainy on April 6, which increased the total sum of government bonds that are held by non-bank residents to UAH 31.7 billion, and as of May 15, 2015 it fell to UAH 23.5 billion.
As reported, the Extended Fund Facility (EFF) of the International Monetary Fund (IMF) restricts the purchase of government bonds by the NBU to capitalize Naftogaz Ukrainy to UAH 17.2 billion for late March, UAH 26.1 billion for late June, UAH 28.3 billion for late September and late December.
In Q1, 2015, the NBU can sell $1.486 billion directly to Naftogaz Ukrainy to ensure critical imports and can increase the figure to $1.686 billion in Q2, 2015. In H2, 2015 no direct sale of foreign currency to Naftogaz Ukrainy is foreseen.
