BISHKEK, Kyrgyzstan, August 19. The volume of Kyrgyzstan's external state debt is projected to decrease to 68.6 percent of the country’s debt portfolio by the end of 2028, Umutzhan Amanbaev, the head of the Public Debt Department at the Ministry of Finance of Kyrgyzstan, said, Trend reports.
This statement was made during the conference titled "Prospects and Priorities for the Development of the Government Securities Market".
Amanbaev said that if the proportion of external state debt within the debt portfolio is projected to be 76.6 percent in 2023, it will be reduced to 68.6 percent by the end of 2028.
He further clarified that this strategic approach indicates that the country's medium-term debt policy will be directed towards domestic market engagement through the development of long-term government bond markets.
Moreover, any new external loans will exclusively be acquired under favorable conditions, ensuring that the issuer's grant value remains at a minimum of 35 percent. These loans will primarily be channeled towards priority economic development programs and projects.
According to the Ministry of Finance of Kyrgyzstan, the state debt of Kyrgyzstan amounted to $5.738 billion as of the end of June 2023.
