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U.S. Cardinal Robert Prevost was elected the new pope and leader of the Roman Catholic Church on Thursday, taking the name Pope Leo XIV, a senior cardinal announced on May 8 to crowds gathered in St. Peter’s Square, according to Vatican News.

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National bank: Ukraine’s foreign reserves surpass pre-war level

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Ukraine's foreign currency assets amount to $27.95 billion as of Dec. 1, with an increase of 10.7% on November's figure thanks to “the rhythmic inflow of international aid, lower volumes of currency net sales and moderate payments of the state debt in foreign currency,” according to the National Bank of Ukraine (NBU).

Another cause for the growth in reserves was the revaluation of financial instruments following changes in market value and exchange rates, the NBU wrote.

The current volume of international reserves provides financing for 3.5 months of future imports, which is sufficient to fulfill the obligations and current operations of Ukraine's government and the National Bank, the authorities added.

On Feb. 24, when Russia’s full-scale invasion of Ukraine started, the country’s international reserves stood at $27.4 billion.

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The Kyiv Independent news desk

We are the news team of the Kyiv Independent. We are here to make sure our readers get quick, essential updates about the events in Ukraine. Feel free to contact us via email with feedback and news alerts.

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