BISHKEK, Kyrgyzstan, September 18. Kyrgyzstan’s public debt stood at $8.38 billion as of June 30, 2025.
The data obtained by Trend from the country's Ministry of Finance indicates that external debt accounted for $5.24 billion, or 62.5 percent of the total, while internal borrowings made up $3.14 billion, representing 37.5 percent.
The country’s main creditors include China, the International Development Association, and the Asian Development Bank.
By the end of 2024, Kyrgyzstan’s total public debt was $6.59 billion, with external debt at $4.53 billion and internal debt at $2.05 billion.
The ratio of external public debt to GDP declined from 31.1 percent at the end of 2023 to 25.9 percent at the end of 2024. Overall, total public debt to GDP also improved, decreasing from 42 percent to 37.6 percent over the same period.
According to Kyrgyzstan’s Medium-Term Debt Management Strategy, all target indicators for 2024 were met. The government expects that, with forecasted macroeconomic conditions and budgetary discipline, the public debt will remain sustainable in the medium term. However, vulnerabilities to external and internal shocks cannot be entirely ruled out.
To maintain debt sustainability, Kyrgyzstan has set a public debt ceiling of no more than 70 percent of GDP, which is strictly enforced.
