BISHKEK, Kyrgyzstan, January 15. The Analytical Credit Rating Agency (ACRA) has upgraded Kyrgyzstan’s long-term credit rating to "B+" for both foreign and national currencies, Trend reports.
The short-term ratings for both currencies remain at "B". ACRA has also given the country a "Stable" outlook, meaning it expects the rating to stay the same for the next 12 to 18 months.
ACRA’s decision reflects several positive factors for Kyrgyzstan. The country has kept government debt at moderate levels, with low costs for debt servicing thanks to favorable loan conditions. Strong economic growth has improved government revenues and strengthened fiscal management. International support for Kyrgyzstan has also remained stable, and the state’s role in the economy is relatively small.
However, ACRA also pointed to some challenges. The country’s standard of living remains low, and Kyrgyzstan’s economy heavily depends on external factors, such as imports and remittances from abroad. The country’s reserves are not sufficient to cover external debt and imports, and there is still room for improvement in areas like governance and human capital.
ACRA, founded in 2015 and accredited by the Central Bank of Russia, is a credit rating agency that assesses the financial health of countries and businesses.
