Ukraine requires $37 bn in external financing next year

Andriy Pyshnyy, Chairman of the National Bank of Ukraine (NBU), said that Ukraine will require at least $37 billion in external financing next year due to high expenditures on defence.

"International support will remain very important for maintaining macrofinancial stability in the coming years," Pyshnyy was quoted as saying by the bank's press service on Thursday.

The official stressed the need for Ukraine to continue its cooperation with the International Monetary Fund and other foreign partners to obtain the aid, Xinhua news agency reported.

Pyshnyy informed that since the beginning of this year, Ukraine received about $27 billion in international assistance, which allowed it to boost foreign reserves to an all-time high of $39 billion at the end of June.

At the end of this year, international assistance for Ukraine is expected to reach $42 billion, Pyshnyy said.