Ministry of Finance: Ukraine returns to global sovereign investor relations rankings with top-ten score in IIF 2026 assessment

Ukraine has ranked among the top ten of 57 emerging markets and developing economies in the Institute of International Finance (IIF) 2026 Investor Relations and Debt Transparency Report, earning a score of 45.2 out of 50 upon its return to the assessment.

The result stands well above the global average of 37 and exceeds the average for survey participants (40.5), reflecting the Ministry of Finance of Ukraine’s sustained commitment to transparent, credible, and investor-friendly communication even amid the extraordinary challenges of the ongoing war.

Ukraine’s Debt Transparency Score of 11 out of 13, which is well above the sample average of 9.6, recognizes the timeliness, granularity, and market-friendly presentation of Ukraine’s fiscal and debt data.

The IIF also recognized Ukraine as a global best-practice example in web-based communication with investors, making it one of only 23 countries acknowledged for leadership on a specific criterion.

In addition, Ukraine earned full marks for the presence of a formal Investor Relations Program, staff accessibility, dedicated English- and Ukrainian-language IR resources, investor feedback integration, and senior policymaker engagement with the investor community.

Ukraine established its Investor Relations Program within the Ministry of Finance in 2018. Since then, the Ministry has treated transparency and investor engagement not as an occasional exercise but as a standing institutional function, maintaining regular investor calls and bilateral meetings, publishing comprehensive debt and policy information, and responding to investor inquiries through dedicated web-based channels.

The IIF report highlights what it calls the “transparency dividend”: when fiscal, debt, and policy information is disclosed in a timely, credible, and predictable manner, investors are better able to distinguish known risks from unknown ones – lowering the uncertainty premium embedded in borrowing costs and broadening the investor base. The report further notes that the experience of Ukraine, alongside Rwanda and Vietnam, demonstrates how direct engagement with the assessment helps sovereigns embed best practice, meet evolving lender expectations, and preserve capital-market access at a time when global capital is scarcer and more selective.

Yuriy Butsa, Government Commissioner for Public Debt Management: “Ukraine’s return to the top ranks of the IIF assessment sends a clear message to our international partners and investors: even in wartime, Ukraine remains committed to the highest standards of transparency, accountability, and open dialogue with the investment community. Clear and consistent communication is fully within our control, and we intend to keep earning the trust it builds. This trust will be the foundation of Ukraine’s recovery and its return to international capital markets in the future.”

The Ministry of Finance will continue to deepen its investor relations practices in line with IIF Best Practices, including further expanding ESG data disclosure, enhancing the granularity of debt reporting and maintaining regular, proactive outreach to the full spectrum of Ukraine’s creditors and investors.