Kyrgyzstan’s national debt is the highest among the Central Asian countries – IMF

Almaty. November 14. Silkroadnews – The level of Kyrgyzstan’s external public debt is the highest in Central Asia, Yahia Said, IMF representative in Bishkek said, KyrTAG writes.

“The level of public debt of Kyrgyzstan at 70% of GDP was expected as by the end of 2016, subject to certain exchange rate forecasts, forecasts of GDP growth and consumption forecasts for the public investment program financed by external debt. At present this forecast has been lowered. We expect the external public debt’s ratio to GDP to exceed 60% by the end of 2016 to stay at around 62-63%”, he said at the IMF report presentation on the regional and global economic situation.

According to him, the forecasts have changed due to changes in the exchange rate.

“There was certain slowdown in implementation of public investment programs, meaning some investments financed by borrowings from abroad have been postponed and as a result our expectation of external debt lowered”, Y. Said explained.

“Nevertheless, even with 62% ratio of public debt Kyrgyzstan still has the highest level in the region and the sharpest increase in public debt in the region”, he summarized.

As of July 31, 2016, the Kyrgyz state debt amounted to $4 billion 72.2 million, of which the external debt is $3 billion 762.6 million (92.4% of total public debt) and the internal debt is $309.6 million (7.6 % of total public debt).