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Ukraine continues to strengthen its financial resilience. As of July 1, 2025, the country’s international reserves reached $45.1 billion, marking a 1.2% increase compared to the previous month. The growth was driven by significant inflows from international partners, which outpaced net foreign currency sales by the National Bank of Ukraine (NBU) and the government’s external debt repayments.
Key inflows in June:
- $1.7 billion – from the Government of Canada
- $1.25 billion – via World Bank accounts
- $1.15 billion – from the European Union
In total, Ukraine received $4.08 billion in international support in June — a major factor in boosting reserves.
Debt servicing
At the same time, the government spent $524 million on external debt payments, including:
- $226.8 million – to the World Bank
- $286.6 million – to other international lenders
- $4.3 million – servicing FX domestic government bonds (OVDPs)
- $1.6 million – to the EU
- $4.7 million – to the EBRD
Additionally, $426.2 million was paid to the International Monetary Fund (IMF).
NBU currency market operations
According to balance sheet data, the NBU sold $2.96 billion on the FX market and purchased only $1.3 million, bringing net FX sales to $2.96 billion — a measure aimed at supporting currency market stability.
Revaluation effect
Due to the revaluation of financial instruments (market price and exchange rate changes), reserves grew by an additional $337.8 million in June.
Why it matters
$45.1 billion in reserves is a clear message to markets and partners: Ukraine remains financially stable, even amid war.
This reserve level covers 5.6 months of future imports, which meets and exceeds international adequacy standards.
It reflects Ukraine’s effective anti-crisis policy and the consistent support from international allies.
Reserve data is published monthly: preliminary figures by the 7th and final data by the 21st of the following month.
