Ukraine’s Ministry of Finance raised the equivalent of UAH23.3bn ($560mn) last week through the sale of hryvnia and foreign currency government bonds, marking its strongest issuance performance of 2025 so far, according to analysts from investment company ICU, reported Ukraine Business News.
The total included nearly UAH15bn in local-currency bonds and $203mn in foreign-currency securities. The ministry sold only military and regular government bonds, without issuing any reserve bonds. The result surpassed the previous 2025 record of UAH18.2bn set in early August, when the ministry raised funds through a mix of currency, reserve, and military securities.
ICU noted that last week’s auction likely fulfilled nearly the entire planned volume of regular and military hryvnia securities. However, the firm said such high levels of issuance are unlikely to be repeated frequently.
The Ministry of Finance plans to issue a new batch of hryvnia government bonds today, which could later be classified as reserve bonds. Still, analysts expect lower results this week, citing reduced demand for regular and military bonds and a 25% smaller supply of foreign currency securities compared with last week.
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