In 2025, Ukraine's international reserves increased by over 30%. — up to USD 57.3 billion – says the National Bank of Ukraine (NBU) on Telegram. This is the highest number in the history of independent Ukraine. According to the president of the facility, Andriy Pyshny, the main factor that made this possible was the exceptionally large international support for the war-torn country. In 2026, Ukraine expects to receive over $45 billion. from international partners.
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Ukraine's reserves have increased. The bank's president explains
The largest increase in the national “financial cushion”, i.e. reserves in the form of, among others, strong foreign currency was observed in December. “The dynamics were facilitated by revenues from international partners, which exceeded NBU's net foreign currency sales and repayments of the country's foreign currency debt,” the NBU wrote on Telegram.
According to NBU data, last year Ukraine received the strongest global financial support during a full-scale war — $52.4 billion. This included, among others: 32. billion dollars. from European Union countries, USD 13.2 billion. from the USA, USD 3.4 billion from Canada.
Additionally, in 2025, the country received over $3.3 billion. thanks to the purchase of government bonds in foreign currencies. This enabled, among other things, repayment of public debt and payments to the International Monetary Fund.
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The president of the NBU, Andriy Pyszny, lists three key factors whose “synergy” influenced the growth of Ukraine's international reserve. He considers the most important of them to be “the powerful support of our international partners, which is not charity, but actually a payment for security services that Ukraine provides at a very high price.”
According to him, the second reason is the stable functioning of the domestic debt market, and the third is a set of interest rate and exchange rate policy instruments, capital control measures, etc., which make it possible to maintain lower expenditure than what the country receives and build a “safety cushion” in the form of international reserves.
“This is our margin of safety for uninterrupted financing of the country's defense needs and reconstruction – maintaining the stability of the currency market,” Andriy Pyshny stressed.
