KYIV, Sept 7 – The National Bank of Ukraine’s foreign exchange reserves as of September 1 rose to $31.614 billion, which is 9.2% more than at the beginning of August this year ($28.951 billion) according to the data of the National Bank of Ukraine (NBU).

The growth reflects rampant borrowing by the government over the past two years, and a recent redistribution of capital from the International Monetary Fund. As part of the redistribution, the IMF disbursed $2.7 billion to Ukraine last week without requiring any reforms.