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The article talks about the reasons why countries keep foreign currencies. The main reason why the keep the reserves are to meet the international payment obligations in the long term and in the short term. Furthermore countries keep foreign currencies in order to pay imports or for commercial debts.

The country was forced to take 67.5bn euros (£57.4bn) after its biggest banks almost collapsed in November 2010. A further 16.5bn euros (£14bn) was drawn out of the state's National Pensions Reserve Fund. The country is now in foreign debt.

When you're in a situation like Ukraine's, the last thing you want to worry about is stabilising your countries financial situation. Many western consumers have invested in Ukraine and, with the recent turmoil, some might worry that their investment will be worth nothing, soon. However, Ukraine's Finance Minister has stated that there is a plan to "restructure" the Ukrainian economy without defaulting on all the bonds sold to foreign investors. This might give those anxious investors a bit of comfort, but it's still hard to say whether the minister will be able to keep his word...