Ukraine central bank transfers USD 1 bln under World Bank management

The National Bank of Ukraine (NBU) transferred USD 1
bln of Ukraine’s international reserves under the management of the World Bank
(WB), the Interfax-Ukraine news agency reported on Jan. 22, citing NBU Deputy
Governor Oleh Churiy. He pointed out that  the World Bank is currently
involved in handling the reserves of 53 countries around the world a top global
investment fund manager. WB asset management will comply with the NBU’s restrictions
related to the types of securities to be purchased, risk management, liquidity
and reporting requirements.

Evgeniya Akhtyrko: Apparently, the NBU is involved in the Reserves Advisory and Management
Program (RAMP) under which the World Bank Treasury provides advisory services
and training to official sector investment managers to help countries
efficiently manage their foreign currency reserves and other investment
portfolios. The WB’s involvement, which typically lasts three years, is not
likely to have a significant effect on the NBU’s reserves, which reached USD
18.8 bln by the end of 2017. However, this should help capacity-building at the
central bank.