PRC’s share in Kyrgyzstan's external debt increased from 2 to 44% for 5 years
In the past five years, China’s share in Kyrgyzstan’s external debt has grown from 2 percent to 44 percent, Akylbek Zhaparov, deputy from Bir Bol faction, said at a parliamentary meeting today.
He noted that today the country’s debt is 58 percent to GDP.
The deputy expressed concern over Kyrgyzstan’s debt to China. According to him, within five years Kyrgyzstan should pay $ 1.5 billion in cash to the Export-Import Bank of China.
«This is the result of the wrong policy of the authorities. The agreements with the Export-Import Bank of China say that the debt is not subject to writing-off, and its term — to extension. In 2012, when I was the Minister of Finance, I refused to sign an agreement with the Chinese bank. Then my deputy signed the document for me, and we were dismissed,» Akylbek Zhaparov said.
