UAH 38 bln sent to national budget by NBU to be partially compensated

Sending of UAH 38 billion to the national budget by the National Bank of Ukraine (NBU) by the end of this year will not considerably affect the situation on the market, as it will be partially compensated by late back-to-back payments under government domestic loan bonds and the return of refinancing loans by banks, Deputy NBU Governor Oleh Churiy has said.

"On one hand, sending of UAH 38 billion to the Finance Ministry would be done in tranches. The Finance Ministry, on the other hand, is to pay on government bonds and coupons worth UAH 31 billion. A large part will be compensated by these payments," he said at a press conference in Kyiv on Thursday.

"In addition, if we look at liquidity of the banking system in general, we are waiting for repayment of large refinancing loans. We believe that sending of UAH 38 billion will be compensated by these factors," he added.

NBU Governor Valeriya Gontareva said that the delay with the appointment of the president's quota in the NBU Council is a technical issue. The appointment of the quota would unblock sending funds to the national budget by the NBU.