«Kyrgyzstan is the only country in the Central Asian region that receives preferential loans from China,» the head of the mission of the International Monetary Fund, Edward Gemayel, said at a press conference today.
According to him, from the point of view of the critical debt situation, the level of Kyrgyzstan’s state debt is moderate. Compared to last year, the level of debt has decreased. But it is important to continue to reduce it so that the government in the future to have the opportunity to borrow if it is required.
The level of Kyrgyzstan’s national debt in 2017 is estimated at 56 percent of GDP. The next year it is expected to increase to 57 percent.
«The level of the critical debt situation is moderate so far. As for Kyrgyzstan’s debt to China, I also see no reason for concern. Yes, the debt has grown a bit, but it’s not dangerous. In any case, we always recommend governments of all countries do not take too many loans from one country, but advise to diversify our external debt,» Edward Gemayel said.