Business · Economy · 4 hrs ago
Ukraine’s state debt has risen sharply as it seeks more support
Ukraine’s state and state-guaranteed debt reached 9.54 trillion hryvnias at the end of September, about 130 times its level in September 2006.
The rise is smaller in dollar terms, but debt has still grown 14.6 times, partly because the hryvnia lost nearly 90% of its value against the US dollar.
Foreign governments and international institutions hold 66.4% of the debt, much of it on favourable terms, and repayments are scheduled to run until 2061.
The burden grew further after Russia’s war escalated in February 2022, and Ukraine now faces large costs for interest and fees as well as repayment of the principal.
The IMF says the debt is unsustainable without restructuring and more favourable foreign aid, while Kyiv has struggled to cover budget and defence needs.
The EU has not approved further aid and is urging governance and anti-corruption reforms, though Ukraine filled a recent funding gap with spending cuts and delayed some weapons payments.
Ukraine’s state and state-guaranteed debt reached 9.54 trillion hryvnias at the end of September, more than twice its level at the end of 2021.
The country has struggled to cover a multibillion-dollar budget deficit while seeking more support from increasingly reluctant European Union backers.
Foreign governments and international institutions account for 66.4% of Ukraine’s debt portfolio, much of it on preferential terms.
The International Monetary Fund warned in July that Ukraine’s debt was unsustainable without restructuring and further preferential foreign assistance.
Ukraine covered a reported $27 billion defence funding gap in early October through spending cuts and a delay to some weapons payments.
- Who
- Ukraine, which is seeking more financial support from its backers.
- What
- Its state and state-guaranteed debt has risen sharply, while the government faces budget and defence funding pressures.
- When
- Debt stood at 9.54 trillion hryvnias at the end of September. The article was published on November 1, 2026.
- Where
- Ukraine.
- Why
- The sources cite the hryvnia’s depreciation and the financial pressures of the conflict with Russia. Ukraine is also seeking funds to address budget and defence needs.
Ukraine
European Union
Further support
Ukraine
President Volodymyr Zelensky urged Brussels to advance part of a 90 billion euro loan intended for 2027.
European Union
The EU declined to validate Ukraine’s reported funding gap or approve further aid.
Conditions for funding
Ukraine
Ukraine sought access to support as it faced a budget deficit and defence funding gap.
European Union
The EU urged Ukraine to make progress on stalled governance and anti-corruption reforms to unlock funds already available.
Ukraine’s debt was 73.29 billion hryvnias.
Ukraine’s debt was $97.95 billion.
The conflict between Kyiv and Russia escalated.
The IMF warned that Ukraine’s debt was unsustainable without restructuring and further preferential foreign assistance.
Zelensky disclosed a $27 billion defence funding gap and urged Brussels to advance part of a loan intended for 2027.
Ukraine covered the gap through spending cuts and persuaded the EU to delay some weapons payments until the following year.
Ukraine’s state and state-guaranteed debt stood at 9.54 trillion hryvnias.
- Debt at end of September
- 9.54 trillion hryvnias
- Debt in September 2006
- 73.29 billion hryvnias
- Debt increase in US dollars
- 14.6 times since September 2006
- Foreign governments and institutions’ share of debt
- 66.4%
- Defence funding gap disclosed by Zelensky
- $27 billion
- Debt repayment schedule extends to
- 2061
What people are saying
Utang tersebut tetap tidak berkelanjutan tanpa restrukturisasi dan bantuan asing preferensial lebih lanjut
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