Delay in intl funding issue will 'melt' Ukraine's reserves

Ukraine's international reserves due to the delay in the issue of financing from international financial institutions have declined to $15.2 billion with the initial forecast for the year end being $17.6 billion, Head of the National Bank of Ukraine (NBU) Valeriya Gontareva has said.

"We have revised the forecast of reserves four times," she said at the forum "Vector 17" in Kyiv.

She stressed if the reforms continue to be delayed, a pause with international funding will be prolonged and the reserves will start "melting before your eyes along with the confidence in our micro stability."