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Kyrgyzstan manages to reduce external debt to 8 creditors

From January to June 2018, Kyrgyzstan’s external debt decreased by $ 272 million. The Ministry of Finance reported.

The republic has managed to reduce its debts to 8 creditors. Thus, the indebtedness to IMF reduced by $17 million, to the International Development Association — by $ 14 million, to the Asian Development Bank — $ 12 million, to the German KfW bank — by $ 3 million, to the European Union, the Kuwait Fund for Arab Economic Development and the Northern Development Fund — by $ 1 million each.

As of July 1, the debt to foreign creditors was $ 3,809 billion.

However, the largest reduction in external debt was due to the writing off $ 240 million by Russia. Up to date, Kyrgyzstan has no indebtedness to Russia.

At the same time, the debts of Kyrgyzstan to six creditors have grown. The country’s debt to the Eurasian Development Bank increased by $ 6 million, Japan International Cooperation Agency — by $ 5 million, Export-Import Bank of China — by $ 3 million.

Kyrgyzstan’s debt to the Islamic Development Bank, the International Fund for Agricultural Development and the Saudi Fund for Development grew by $1 million each.