Kyrgyzstan's debt to China has been disclosed

1 hour ago

Kyrgyzstan's debt to China has been announced

Kyrgyzstan's debt to China amounts to 1.4 billion dollars. This was stated by the Deputy Minister of Finance, Umutjan Amanbayev, during the discussion of the report on the execution of the 2025 republican budget.

According to Amanbayev, previously the debt to China constituted up to 40 percent of the country's total debt. Later, this share decreased to 27 percent.

"Until 2020, this debt was up to 90-100 percent of the total revenue part of the country's budget. We conducted an analysis for the seven months of this year, and the debt to China accounted for only 16 percent of budget revenues. That is, today we can pay off all the debt without any problems, but, of course, it is better to adhere to the payment schedules and get rid of the debt gradually," Amanbayev said.

The Deputy Minister emphasized that currently all loans are being taken solely for development and they are linked to economic growth.

"77 billion soms were directed towards debt repayment, 70 percent of which went to external debt. Currently, we do not have the concept of overdue debt. One should not be afraid of taking loans for the development of the country," he noted.

The President of Kyrgyzstan had stated that in 2025, the country's external debt could be paid off in a single day. He indicated that the economy is growing steadily, while the volume of external debt has significantly decreased. In particular, he mentioned that while in 2020 external debt accounted for 54 percent of GDP, in 2025 this figure is approximately 25 percent.

"There is no risk to the economy. We can pay off the external debt in a single day, but this is not beneficial — interest rates will be high, and penalties are provided for. By 2035, we will settle the previously taken loans without any problems," the head of state had said.

For reference, in 2023, Japarov called on countries and international financial organizations to write off the republic's debt and start building energy facilities there. In 2024, Turkish President Recep Tayyip Erdogan wrote off Kyrgyzstan's external debt of 58.9 million dollars.