The Finance Ministry of Ukraine issued government domestic loan bonds worth Hr 8.9 billion in April to increase the charter capital of national joint-stock company Naftogaz Ukrainy, the National Bank of Ukraine (NBU) reported on May 20.
According to the report, last month the NBU bought government bonds worth Hr 7 billion, and since early 2015 the central bank bought bonds worth Hr 34.4 billion.
The bonds were transferred to Naftogaz Ukrainy on April 6, which increased the total sum of government bonds that are held by non-bank residents to Hr 31.7 billion, and as of May 15, 2015 it fell to Hr 23.5 billion.
As reported, the Extended Fund Facility (EFF) of the International Monetary Fund (IMF) restricts the purchase of government bonds by the NBU to capitalize Naftogaz Ukrainy to Hr 17.2 billion for late March, Hr 26.1 billion for late June, Hr 28.3 billion for late September and late December.
In Q1, 2015, the NBU can sell $1.486 billion directly to Naftogaz Ukrainy to ensure critical imports and can increase the figure to $1.686 billion in Q2, 2015. In H2, 2015 no direct sale of foreign currency to Naftogaz Ukrainy is foreseen.
