Kyrgyzstan’s external debt has been reduced to 37 percent, Finance Minister Almaz Baketaev told reporters.
According to him, this result was achieved over the past four years as part of implementing the president’s directive to reduce the debt burden on the budget. The head of the ministry described this figure as an achievement of state financial policy.
He also added that the reliability of Kyrgyzstan’s position has been confirmed by external auditors who conduct monitoring, such as the Asian Development Bank. Experts have deemed the country’s external debt sustainable.
Almaz Baketaev noted that the country has no overdue payments and even has the option of early repayment of part of the debt.
There is no cause for concern about the state’s debt obligations, he concluded, as the situation is under control.
President Sadyr Japarov previously announced that 285.4 billion soms would be allocated to servicing the national debt from 2020 to 2025, of which 170.5 billion is external debt and 114.9 billion is domestic debt. He noted that, at current economic growth rates, the external debt will be repaid by 2035.
