Pyshnyi explained how the risk of hryvnia issuance was reduced.

NBU announced a reduction in the risk of emission financing

The head of the National Bank of Ukraine, Andriy Pyshnyi, stated that the uncertainty regarding the receipt of international aid has decreased, therefore the risk of emission financing for this year's budget needs has also decreased. According to him, thanks to sufficient volumes of external support, the government will be able to continue financing budget expenditures, and the NBU will ensure the stability of the foreign exchange market.

According to the NBU, the IMF provided Ukraine with a tranche of $1.1 billion, and Canada sent $300 million in concessional financing. By the end of the year, more than $15 billion is expected to be received, including $4.8 billion under the program with the World Bank.

International partners have also substantially moved towards providing Ukraine with an irrevocable loan of up to $50 billion secured by income from Russian assets.

Andriy Pyshnyi emphasized that international support for Ukraine will remain significant and it is expected that the total amount of international financing this year will reach $41.5 billion. Maintaining external support along with internal borrowings will allow the government to cover the budget deficit without emission financing. The NBU will also be able to support an adequate level of international reserves for stabilizing the foreign exchange market.

The NBU's foreign exchange reserves are expected to grow to $43.6 billion and $41.0 billion by the end of 2024 and 2025, respectively.