Kyrgyzstan’s national debt exceeded $4 billion

Almaty. January 13. Silkroadnews – Kyrgyzstan’s national debt reached $4.075 billion, KyrTAG writes.

“The official data shows the external debt currently stands at nearly $3.765 billion, the internal reached around $310 million”, the officials of the ministry of finance of the Kyrgyz Republic say.

According to the ministry, Kyrgyzstan services the national debt the public debt within a strict deadline.

“Last year the national debt service took 20.75 billion som (around $299 million at current exchange rate), compared to 2015 the costs of debt repayment grew 44%”, the document says.

The major part of the public debt of Kyrgyzstan are foreign loans. For instance, during the years of independence $2.086 billion mainly directed to the construction of roads and energy sector development were borrowed from various financial institutions of the Republic of China.

At the same time the Ministry of Finance of the Kyrgyz Republic reports that the national debt of the country “remains within the limits of the permissible values”, as, according to the laws of the republic, the country’s external debt should not exceed 60% of GDP.