Author of the article:

Reuters

LVIV — The Ukrainian president’s economic adviser on Saturday played down the risks of the hryvnia devaluating further, despite the Russian invasion of the country which began on Feb. 24.

Oleg Ustenko told local media that Ukraine’s budget was fully funded and that the country’s foreign exchange reserves of $27.5 billion would be replenished. Ukraine has secured emergency financing from the International Monetary Fund and other institutions to support its economy during the war.

Russian forces have shelled major Ukrainian cities, including Kyiv and Kharkiv, hit critical infrastructure and disrupted shipping routes through the Black Sea.

Ustenko has previously said that invading Russian forces have so far destroyed at least $100 billion worth of infrastructure, buildings and other physical assets. (Reporting by Natalia Zinets; writing by Matthias Williams; editing by Alexander Smith)

Advertisement 2

Top Stories Newsletter logo

Financial Post Top Stories

Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.

By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc. | 365 Bloor Street East, Toronto, Ontario, M4W 3L4 | 416-383-2300

LEAVE A REPLY

Please enter your comment!
Please enter your name here