Jakarta –
Ukraine’s central bank has sold its gold reserves worth US$ 12.4 billion or equivalent to Rp. 185.8 trillion (assuming an exchange rate of Rp. 14,990).
Quoted from Reuters, the sale of gold reserves has been carried out since the beginning of Russia’s invasion of the country.
Deputy Governor of the Central Bank of Ukraine Kateryna Rozhkova said that this step was taken so that entrepreneurs or importers could make purchases of goods.
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“We are selling (the gold reserves) so that our importers can buy the goods the country needs,” said Kateryna, quoted by Reuters on Monday (18/7/2022).
He said the sale of gold was not aimed at stabilizing the exchange rate in Ukraine.
Indeed, the Ukrainian economy is constantly under pressure due to the war with Russia. The International Monetary Fund (IMF) has also predicted that the country’s economic conditions will be disrupted due to the war.
Managing Director Kristalina Georgieva revealed that soaring energy and wheat prices also contributed to soaring inflation. Then the global supply chain is also disrupted due to this condition.
“This will have an impact all over the world, especially for poor households. If this war gets hotter then the economy will be even more damaged,” he said.
(kil/dna)
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