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At least $ 157.3 million spent on servicing external debt in 2017

In 2017, Kyrgyzstan has spent $ 157.3 million, or 10,832.4 billion soms, on servicing the state external debt. The report of the Accounting Chamber on the results of the audit of the activities of the National Bank says.

It was noted that the total amount of the nominal external debt of the Kyrgyz Republic at the end of 2017 was $ 4,080.6 billion, or 53.9 percent of GDP. At the same time, the fulfillment of the financial obligations of the Kyrgyz Republic on servicing the foreign debt was carried out in full and on time last year.

At least 89 percent of the debt are liabilities to the World Bank, the Asian Development Bank and the International Monetary Fund. In the bilateral debt structure, the main creditors of Kyrgyzstan were China, Russia and Japan, which together accounted for 90 percent of the bilateral debt.

In 2017, the principal amount of the debt decreased by $ 106.9 million. At least $ 50.4 million were paid as interest and fines.

«As for the multilateral creditors, most of the payments (86.2 percent) were directed to servicing loans from the Asian Development Bank, the World Bank and the International Monetary Fund. As for bilateral loans, an overwhelming part of the funds (83.1 percent) was spent on servicing the loans from the Export-Import Bank of China,» the report says.