Kyrgyzstan's external debt does not pose a threat to economy — head of Cabinet
Chairman of the Cabinet of Ministers of Kyrgyzstan Akylbek Japarov said that Kyrgyzstan’s external debt remains safe and does not exceed 50 percent of GDP. According to him, the country consistently pays off its obligations and is ready to attract funds to implement new large projects. He said this today, November 7, during a press breakfast.
«I am absolutely not afraid of external debt. For example, in the United States it is over $33 trillion, and their economy continues to function. Compared to such a scale, our situation is stable, we pay off the debt without harm to the country. Every year we return more than $400 million, while simultaneously implementing important initiatives,» Japarov noted.
The head of the Cabinet also told about the agreement reached at the summit of the Organization of Turkic States on writting off Kyrgyzstan’s debt to Turkey. Initially, the write-off amount was $62 million, but in early November the Ministry of Finance paid over $4 million according to schedule. As a result, $58.8 million will be written off.
«This once again confirms that payments are being made according to plan, and external obligations do not have a negative impact on the economy,» Akylbek Japarov said.
