DUSHANBE, Tajikistan, July 16. Standard & Poor's begins assessment of Tajikistan's sovereign credit rating, Trend reports via National Bank.
A delegation from the international credit rating agency Standard & Poor’s has arrived in Dushanbe to conduct an in-depth evaluation of Tajikistan’s sovereign credit profile. The working visit marks a key stage in the process of updating the country’s credit rating for 2025.
The agency’s analysts, Julia Philok and Roman Rybalkin, held a meeting with the Chairman of the National Bank of Tajikistan (NBT), Firdavs Tolibzoda. Discussions focused on key macroeconomic and financial indicators, including the country’s monetary and fiscal policy framework, the stability of the banking sector, inflation control measures, and the management of international reserves.
The meeting emphasized Tajikistan’s continued economic resilience despite global geopolitical and financial volatility. The analysts are expected to take into account regional conditions, banking system profitability, and the government's commitment to reforms—particularly the implementation of an inflation targeting regime—when finalizing their rating assessment.
The credit rating issued by Standard & Poor’s plays a vital role in enhancing Tajikistan’s access to international capital markets and attracting foreign investment. The agency’s analytical report is used as a key reference point by global investors.
Standard & Poor’s is one of the world’s top five rating agencies, headquartered in New York. Under an annual agreement, the agency assigns a sovereign credit rating to Tajikistan, reflecting the nation’s economic performance and financial security.
According to the Ministry of Finance, Tajikistan’s external debt as of April 1, 2025, stood at $3.1 billion, down $87 million or 2.7 percent since the beginning of the year. Of this amount, 95.6 percent is classified as public debt, while 4.4 percent comprises government-guaranteed obligations.
