BISHKEK, Kyrgyzstan, July 15. International rating agency Moody’s has revised the outlook on Kyrgyzstan’s sovereign credit rating from “Stable” to “Positive,” while affirming the long-term issuer rating at B3, Trend reports, citing the Ministry of Economy and Commerce.
The upgrade reflects improved macroeconomic stability, strengthened fiscal indicators, and a rise in the country’s potential growth rates. These developments are credited to ongoing economic diversification, reforms, and active infrastructure investment.
A significant factor in the agency’s decision was the notable reduction in public debt—from 64 percent of GDP in 2020 to 37 percent in 2024. This decline, Moody’s notes, has created fiscal space for the government to support sustainable economic development.
The agency also underlined the importance of continuing structural reforms, improving governance, and mitigating external risks. With further progress, Kyrgyzstan could be eligible for an upgrade in its sovereign rating in the future.
The outlook revision follows a fact-finding visit by Moody’s analysts to Kyrgyzstan from June 17 to 19, 2025. During the visit, experts held consultations with key national institutions to evaluate the country’s economic trajectory.
