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PRC’s share in Kyrgyzstan's external debt increased from 2 to 44% for 5 years

In the past five years, China’s share in Kyrgyzstan’s external debt has grown from 2 percent to 44 percent, Akylbek Zhaparov, deputy from Bir Bol faction, said at a parliamentary meeting today.

He noted that today the country’s debt is 58 percent to GDP.

At least $ 191 million will be spent on servicing the external debt in 2018. In five years, this figure will reach $ 320 million. This is a heavy burden for the country.

Akylbek Zhaparov

The deputy expressed concern over Kyrgyzstan’s debt to China. According to him, within five years Kyrgyzstan should pay $ 1.5 billion in cash to the Export-Import Bank of China.

«This is the result of the wrong policy of the authorities. The agreements with the Export-Import Bank of China say that the debt is not subject to writing-off, and its term — to extension. In 2012, when I was the Minister of Finance, I refused to sign an agreement with the Chinese bank. Then my deputy signed the document for me, and we were dismissed,» Akylbek Zhaparov said.

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