Ukraine’s international reserves increased by 8% over the year
8 January 09:18
As of January 1, 2025, Ukraine’s international reserves, according to preliminary data, amounted to USD 43,787.6 million, which is 8% more than at the beginning of last year. This was reported by the National Bank of Ukraine, according to Komersant ukrainskyi.
In December 2024, there was an increase of 9.7% compared to November, which was made possible by foreign exchange earnings from international partners, which exceeded the net sale of foreign currency by the National Bank and the country’s debt payments in foreign currency.
In December 2024, the government’s foreign currency accounts with the NBU received USD 9,461.1 million, of which:
- uSD 4,411.1 million was macro-financial assistance from the EU;
- uSD 3,935.3 million was received from the World Bank through the DPL mechanism from the United States, Japan, and the United Kingdom;
- uSD 1,088.8 million was provided by the IMF;
- uSD 25.9 million was received from other creditors.
At the same time, Ukraine made payments on its public debt in foreign currency in the amount of USD 132.6 million, in particular
- uSD 75.2 million to the World Bank;
- uSD 4.5 million to the EBRD;
- uSD 52.9 million to other international creditors;
- an additional USD 252.0 million was paid to the International Monetary Fund.
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In December, the NBU sold USD 5,308.9 million and bought USD 0.4 million on the Ukrainian foreign exchange market. Net sales of foreign currency amounted to USD 5,308.5 million, almost twice as much as in November. This increase is due to the traditional seasonal intensification of budget expenditures and business operations at the end of the year.
In 2024, Ukraine received about USD 42 billion of international financial support, of which
- uSD 17.5 billion from the European Union;
- uSD 6.8 billion from the United States;
- uSD 6.1 billion from the World Bank;
- 5.3 billion USD – from the IMF;
- 4.3 billion USD – from Japan;
- uSD 1.8 billion from Canada.
In addition, the government raised over USD 3.5 billion through the placement of foreign currency domestic government bonds. These funds helped to offset public debt repayments (USD 6.7 billion), IMF payments (USD 3.4 billion), and the NBU’s net interventions in foreign currency sales (USD 34.8 billion).
According to NBU Governor Andriy Pyshnyi, the current volume of international reserves provides funding for 5.5 months of future imports. In 2025, Ukraine expects to receive about USD 38 billion from its international partners, which will allow it to maintain a sufficient level of reserves and ensure the stability of the foreign exchange market.
