Kyrgyzstan Makes Progress in Reducing External Debt

Kyrgyzstan has made notable progress in reducing its external debt, Finance Minister Almaz Baketaev said in an interview with a television channel.

According to the minister, external debt remains one of the most pressing issues for the country, The Caspian Post reports, citing Kyrgyz media.

Baketaev noted that significant progress has been made in reducing the debt burden over the past four years.

"At the instruction of the head of state, the goal was set to reduce the level of external debt. Today, it stands at 37%, which is significant achievement," he emphasized.

The minister reported that, following audit by international financial institutions, including Asian Development Bank, Kyrgyzstan's external debt was deemed sustainable and manageable.

"We have no overdue obligations. Moreover, the country has the option of repaying part of the debt early, but premature decisions on this issue are not yet advisable," Baketaev noted.

He also emphasized that citizens should not worry about the state of the external debt, since the government's financial policy is aimed at maintaining stability and increasing the country's economic resilience.