Last year, Ukraine’s national debt increased by $33.9B, most of which was preferential financing from international partners.

As specified by the Ministry of Finance, as of December 31, 2023, Ukraine’s state and state-guaranteed amounted to $145.3B, which is comprised of external debt – $101.7B (69.99% of the total amount) and internal debt – $43.6B (30.01%).

Regarding creditors, the lion’s share of the debt falls on soft loans received from international financial institutions (IFIs) and foreign governments – 51.5%. In 2023, Ukraine received external financing in the total amount of $42.5B, of which $11.6B (or 27%) was non-refundable grant aid. This aid was provided by the US, Japan, Norway, Germany, Spain, Finland, Switzerland, Ireland, Belgium, and Iceland.

Ukraine received $30.9B in long-term preferential credit financing, in particular from the EU ($19.5B), the IMF ($4.5B), Japan ($3.4B), Canada ($1.8B), the UK ($1B) , the World Bank ($660M), and Spain ($50M).