Ukraine's international reserves grew by 9.1% in November, reaching $39.92bn, boosted by substantial financial inflows from international partners and a reduction in net currency sales by the National Bank of Ukraine (NBU), the central bank reported.

In November, the government received $6.68bn in foreign aid from partners including the World Bank, the United States, Japan, South Korea and others, alongside revenue from foreign exchange government bond placements.

The NBU reported a net currency sale of $2.71bn during the month, a 21% decrease compared to October, while reserve purchases amounted to $4.4mn. The revaluation of financial instruments further increased reserves by $71.9mn.

Debt servicing also continued, with $433.8mn allocated to repay foreign exchange government bonds and debts owed to the European Investment Bank (EIB), the European Bank for Reconstruction and Development (EBRD), the World Bank and other international creditors. Ukraine also paid $263.8mn to the IMF.

Since the war began in February 2022, Ukraine has received $105.9bn in financial assistance as of December 10, covering its budget needs for 2024, the Finance Committee of Parliament reported.

The EU remains Ukraine's largest donor, contributing $40.54bn, followed by the United States with $29.78bn and the IMF with $11.37bn. Other key contributors include Japan ($6.57bn), Canada ($5.41bn) and the World Bank ($5.25bn).

In November alone, Ukraine's state budget received $6.4bn in loans and grants, bringing the total external financing for the first 11 months of 2024 to $32.4bn. Of this, $9.2bn, or 28%, was provided as grants that do not require repayment.

Ukraine expects to secure an additional $6.9bn in December from the EU, IMF and World Bank. With this funding, Ukraine’s 2024 budget needs are expected to be fully covered.