In February 2025, the total amount of Ukraine’s state and state-guaranteed debt decreased by UAH 48.48 billion in the hryvnia equivalent, while in the U.S. dollar equivalent, the debt increased by USD 9.5 million. As of February 28, 2025, the total state and state-guaranteed debt amounted to UAH 7,019.53 billion (USD 169.09 billion), including:

• State and state-guaranteed external debt – UAH 5,106.73 billion (72.75% of the total) or USD 123.01 billion.
• State and state-guaranteed domestic debt – UAH 1,912.80 billion (27.25%) or USD 46.08 billion.

During the month, the domestic public debt decreased by UAH 15.48 billion. In February 2025, bonds UA4000204150 were redeemed for over UAH 41 billion. These bonds were considered for inclusion in the JP Morgan GBI-EM GD index in March 2022 but were not included due to russia’s full-scale war against Ukraine.

The Ministry of Finance is reducing domestic borrowing to lower the cost of public debt servicing while covering financing needs through significant concessional funding from international partners.

Structure of State and State-Guaranteed Debt

By creditor category, most of the debt is held by:

• International financial organizations (IFIs) and foreign governments – 57.82%
• Domestic market via government securities sales – 26.2%
• External markets through issued securities – 9%
• Other creditors – 6.98%

Currency Structure of Public Debt

Ukraine’s state and state-guaranteed debt is distributed by currency as follows:

• U.S. dollars – UAH 1,828.05 billion (26.18%)
• Euros – UAH 2,405.88 billion (34.27%)
• Hryvnia – UAH 1,755.97 billion (25.02%)
• Other currencies (SDRs, British pounds, Canadian dollars, Japanese yen) – UAH 1,019.63 billion (14.52%)

Government Bond Auctions

In February 2025, the Ministry of Finance held 10 auctions for the placement of domestic government bonds, raising UAH 26.4 billion to finance the state budget.

For detailed information on the state and state-guaranteed debt of Ukraine for February 2025 and other periods, please visit the official website of the Ministry of Finance at the provided link.