Public debt
As of June 30, 2026, Kyrgyzstan's external public debt stood at $5,215M and domestic debt (borrowing in soms) at $4,883M; total public debt equals 37.5% of expected 2026 GDP. The largest external creditor is Экспортно-импортный банк Китая (27.1% of external public debt). Below: debt since 1993, different debt definitions, creditors, servicing and the payment outlook.
Data as of October 6, 2026
Term summary: Askar Akayev
1990–2005Colour of changes:green — change in the desirable direction for the indicatorred — in the undesirable directiongrey — almost unchanged or a neutral indicator (arrow shows direction)how we calculate
- External public debt
- $1,950M
- Lowest value among 4 comparable terms (series from 2004). Change in the desirable direction for this indicator.
- end of 2004: $1,950M
- data for 12 of 14 yearsRecalculated by news.kg
- Domestic public debt
- $179M
- Lowest value among 4 comparable terms (series from 2004). Neutral indicator — not coloured.
- end of 2004: $179M
- data for 12 of 14 yearsRecalculated by news.kg
- Public debt, % of GDP (Ministry of Finance)
- 93.9% of GDP
- Highest value among 4 comparable terms (series from 2004). Change in the undesirable direction for this indicator.
- end of 2004: 93.9% of GDP
- data for 12 of 14 yearsRecalculated by news.kg
- External public debt, % of GDP
- No data
- Domestic public debt, % of GDP
- No data
- Public debt, total
- $2,128M
- Lowest value among 4 comparable terms (series from 2004). Change in the desirable direction for this indicator.
- end of 2004: $2,128M
- data for 12 of 14 yearsRecalculated by news.kg
How we compare, and caveats
The colour of a change is a property of the indicator (the direction in which its change is desirable), not an assessment of the president. The baseline is the nearest previous term with data. Terms differ in length, so flows are compared as an annual average, rates as the mean or average annual rate, and stocks at the end of the term. Results are shaped by predecessors’ decisions, world prices, devaluations and the 2020 pandemic; 2025 data are partly preliminary.
Flows use full years attributed to the president (more than half of the year in power). Stocks are taken on 31 December of the year before the first year of the term and on 31 December of the last one; for the incumbent, the latest published point.
Context: why the debt is growing and how to assess it
Verifiable facts for your own assessment: absolute amounts and shares, loan terms, budget burden and external assessments. Each point cites its primary source. Data as of October 6, 2026.
Debt doubled, mostly through domestic borrowing
Between December 31, 2020 and June 30, 2026 public debt rose from $4.93bn to $10.10bn (2.05-fold). External debt grew by 24% ($4.22bn → $5.22bn), domestic debt 6.9-fold ($0.71bn → $4.88bn). Domestic debt accounts for 81% of the increase; its share of total debt rose from 14% to 48%. 99% of domestic debt is som-denominated treasury bonds.
Relative to the economy debt is lower than in 2020, but the ratio rose in 2025
GDP in dollars grew 2.7-fold in 2020–2025 ($8.3bn → $22.6bn) and debt 1.8-fold, so debt-to-GDP fell from 63.6% to 39.5%. On June 30, 2026 it was 37.5% of expected 2026 GDP (the denominator is a government forecast). Caveats: 2020 was a year of pandemic contraction (−7.1%) and som depreciation (69.6 → 82.6 som per dollar at year-end); before the pandemic, in 2019, the ratio was 48.8%. Real GDP growth in 2021–2025 was about 55%; the rest of the dollar GDP increase came from prices. In 2025 the ratio rose for the first time since 2020, from 36.2% to 39.5%.
Sources: Расчёт news.kg
and 4 more sources
What the borrowing financed
External public debt at end-2024: 29.3% transport, 18.1% energy, 6.0% agriculture, 30.2% multi-sector loans (including budget support). According to Finance Minister Ruslan Suinaliev (June 2026), 57.8% of domestic borrowing went to acquiring financial assets, including increasing commercial banks' resources, and 35.2% to building and refurbishing infrastructure. The IMF (April 2026) notes that borrowing needs exceed the budget deficit because of net acquisition of financial assets and quasi-fiscal operations, and recommends avoiding quasi-fiscal financing.
4 more points
Terms: external debt is mostly concessional, domestic debt costs more
At end-2024, 98.6% of external public debt consisted of concessional loans, and 92.4% carried fixed rates of up to 2.9% a year. In 2025 Kyrgyzstan issued its first Eurobonds: $700m at 7.75% maturing in 2030; on June 30, 2026 concessional loans made up 85.2% of external debt and Eurobonds 13.4%. Domestic debt is more expensive: 73% of domestic debt (almost all of it treasury bonds) at end-2024 carried 7% a year or more. In January–July 2026, interest on domestic debt was 12.1bn som versus 5.4bn som on external debt, although external debt is larger. Domestic debt is denominated in som, so exchange-rate moves do not change its size.
Sources: Минфин КР
and 3 more sources
Budget burden: the share fell, the amounts grew, the IMF expects the share to rise
Debt payments (principal and interest) equalled 22.8% of republican budget revenue in 2020 and 14.3% in 2024; interest alone, 6.33% and 4.35% (3.89% in 2023). Over the same period interest and other debt payments in dollars nearly doubled, from $110m to $210m a year. Total debt equalled 302.5% of annual republican budget revenue in 2020 and 137.3% in 2024. The burden is set to rise: in the IMF–World Bank baseline (debt sustainability analysis, May 2026) public debt service increases from 12.3% of revenue in 2025 to 23.8% in 2031, driven by high domestic interest rates and payments on non-concessional borrowing. These are shares of general government revenue including grants, not of the republican budget, so they are not directly comparable with the Finance Ministry figures above.
Currency, creditors and reserves
The share of external debt (all of it in foreign currency) in total public debt fell from 86% at end-2020 to 52% on June 30, 2026. Debt to the Export-Import Bank of China fell from $1.77bn to $1.41bn, and its share of external public debt from 41.9% to 27.1% (the debt management strategy caps any single creditor at 45%). NBKR gross international reserves on August 31, 2026 were $8.95bn, 1.7 times external public debt; at end-2020 they were about two-thirds of it. Reserves belong to the central bank and are not meant for repaying public debt, but they show the country's foreign-currency buffer. The IMF expects reserves to decline: from 6.3 months of prospective imports (including re-exports) in 2025 to 5.6 in 2026 and about 2 months by 2031, after the Eurobond repayment, which is below the IMF reserve adequacy metric (4.5 months).
Benchmarks, external assessments and near-term risks
The Public Debt Management Strategy (Cabinet resolution No. 357 of July 1, 2022) sets a ceiling of 70% of GDP; according to the finance minister, it is kept in the current strategy. For reference, the EU Maastricht benchmark is 60% of GDP; it does not bind Kyrgyzstan. In the latest published IMF–World Bank assessment (May 2026) the risk of debt distress is “moderate”; in 2026 the IMF Executive Board concluded that public debt "remains sustainable, but financing needs are sizable". After surpluses in 2023–2025, the IMF projects a budget deficit of 3.8% of GDP in 2026 and debt at about 40–41% of GDP in 2026–2030 (Article IV report table; the debt sustainability analysis in the same report has 42.3% of GDP in 2026). Payments peak in 2030, when the Eurobonds mature: about $1.1bn on external debt versus about $0.5bn in 2027.
Sources: Минфин КР
and 6 more sources
Минфин КР; 24.kg; Договор о функционировании ЕС; IMF; IMF Press Release No. 26/185; Минфин КР
How much the country owes
The Ministry of Finance publishes debt in dollars from 2020; earlier years are a news.kg conversion of som data at the National Bank rate.
Public debt, USD million
USD million · 1993–2026
- External debt (Ministry of Finance)
- Domestic debt (Ministry of Finance)
- Total debt before 2020 (news.kg conversion)
- Within-year snapshot
До 2020 г. — пересчёт news.kg сомовых данных Минфина/Нацстаткома по курсу НБКР на конец года; с 2020 г. — официальная долларовая оценка Минфина.in Russian
Включает обязательства перед МВФ (в т.ч. переданные СПЗ) и с 2025 г. еврооблигации $700 млн.in Russian
as of 06/30/2026: external $5,215.15M, domestic $4,882.73M.
Background shows presidential terms by the year attribution rule (see methodology).
Sources: Нацстатком КР, табл. 2.03.00.01 «Задолженность органов государственного управления» (данные Минфина КР), млн сомов ÷ курс НБКР на конец года
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Public debt, % of GDP
% of GDP · 1993–2026
- Debt / GDP (Ministry of Finance, Statistics Committee)
- Within-year snapshot (to expected GDP)
2020: the Ministry of Finance bulletin shows 67.6% of GDP (to GDP before revision); the series shows 63.6% of GDP to current GDP.
2021: the Ministry of Finance bulletin shows 59.0% of GDP (to GDP before revision); the series shows 55.8% of GDP to current GDP.
as of 06/30/2026: К ожидаемому ВВП 2026 г. (2 352 678,7 млн)in Russian
2019: Знаменатель — ВВП Нацстаткома: с 2019 г. он рассчитан по СНС-2008 (пересмотр поднял уровень ВВП: 2020 г. — 639,7 млрд сомов против 601,8 млрд до пересмотра), до 2019 г. — по прежней методике; доли до и после 2019 г. напрямую несопоставимы.in Russian
The Ministry of Finance series (central government) is not methodologically comparable with the IMF (general government) and World Bank series — they are shown separately in the “Different definitions of debt” chart below.
Sources: Расчёт news.kg: Нацстатком КР, табл. 2.03.00.01 «Задолженность органов государственного управления» (данные Минфина КР), млн сомов / Нацстатком КР, табл. 1.01.00.01 «Национальные счета в текущих ценах»
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External and domestic public debt, % of GDP
% of GDP · 2020–2025
- External public debt, % of GDP
- Domestic public debt, % of GDP
The layers add up to total debt to GDP. 2020–2021 are recalculated by news.kg against current GDP (the Ministry of Finance published ratios to pre-revision GDP); from 2019 the denominator is GDP under SNA 2008. The in-year 2026 snapshot is divided by expected GDP and is not part of the annual series.
Sources: Расчёт news.kg: Нацстатком КР, табл. 2.03.00.01 «Задолженность органов государственного управления» (данные Минфина КР), млн сомов / Нацстатком КР, табл. 1.01.00.01 «Национальные счета в текущих ценах»
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Different definitions of debt, % of GDP
% of GDP · 2000–2031
- Ministry of Finance — central government
- IMF — general government
- IMF — forecast
- World Bank — central government (GFS)
These are three different series with different coverage and different GDP in the denominator, not one indicator: the Ministry of Finance covers central government debt, the IMF the whole general government, the World Bank central government under GFS (from 2014).
Охват — general government; может отличаться от данных Минфина (центральное правительство) и от ВВП Нацстаткома.in Russian
Ряд доступен только с 2014 г.in Russian
Sources: Расчёт news.kg: Нацстатком КР, табл. 2.03.00.01 «Задолженность органов государственного управления» (данные Минфина КР), млн сомов / Нацстатком КР, табл. 1.01.00.01 «Национальные счета в текущих ценах»
and 5 more sources
Минфин КР, Статистический бюллетень по государственному долгу КР №1 (на 31.12.2024), октябрь 2025; Минфин КР, «Структура государственного долга КР на 30.06.2026» (опубл. 05.08.2026); Минфин КР, «Уточнённая структура государственного долга КР на 31.12.2025» (опубл. 05.03.2026); IMF World Economic Outlook / DataMapper, GGXWDG_NGDP — «General government gross debt, % of GDP» (версия DataMapper на 06.10.2026, прогнозный горизонт до 2031); World Bank WDI API, GC.DOD.TOTL.GD.ZS — «Central government debt, total (% of GDP)» (lastupdated 2026-07-13)
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Who the country owes
Structure of external public debt: Ministry of Finance snapshots since 2020 and creditor groups from the World Bank since 1992.
Creditors of external public debt
as of 12/31/2022 · total $4,482.9M · shares of external public debt
- Экспортно-импортный банк Китаяin Russianbilateral39.8%$1,782.2M
- Азиатский банк развития (АБР)in Russianmultilateral15.7%$705.1M
- Международная ассоциация развития (МАР, группа Всемирного банка)in Russianmultilateral14.2%$636.2M
- МВФin Russianmultilateral10.1%$453.7M
- Японское агентство международного сотрудничества (JICA)in Russianbilateral4.0%$179.5M
- Исламский банк развития (ИБР)in Russianmultilateral3.7%$166.5M
- Евразийский банк развития (ЕАБР/ЕФСР)in Russianmultilateral3.7%$165.7M
- Правительство Турецкой Республикиin Russianbilateral1.7%$74.7M
- Others (15 creditors)7.1%$319.3M
Минфин: таблица 9 бюллетеня (2020–2024) и ежемесячные отчёты о структуре госдолга (31.12.2025, 30.06.2026). Включает МВФ и еврооблигации.in Russian
Sources: Минфин КР, Статистический бюллетень по государственному долгу КР №1 (на 31.12.2024), октябрь 2025
External public debt by creditor group
USD million · 1992–2024
- China (all official PRC creditors)
- Multilateral banks and funds
- Other countries (bilateral)
Excludes IMF loans: the World Bank series does not include them, so the total is lower than the Ministry of Finance's.
Всемирный банк IDS: государственный и гарантированный внешний долг по кредиторам, 1992–2024. Не включает кредиты МВФ. «Китай» — все официальные кредиторы КНР (в основном Эксимбанк Китая). Используется для периодов до 2020 г.; для 2020–2024 расхождение с Минфином по Китаю < 0,2%.in Russian
news.kg grouping: multilateral — ADB, IDA (World Bank), EDB, IsDB, EIB, EBRD, AIIB, IFAD, OPEC Fund, Nordic Development Fund, Islamic Solidarity Fund, EU; other states — “other countries”. The sum of the groups matches the source total.
Sources: World Bank, International Debt Statistics (IDS), ряд DT.DOD.DPPG.CD с разбивкой по кредиторам (counterpart-area), обновлено 2025-12-03
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| Series | Period | Value | Notes |
|---|---|---|---|
| China (all official PRC creditors) | 1992 | $3.2M | |
| China (all official PRC creditors) | 1993 | $3.1M | |
| China (all official PRC creditors) | 1994 | $3.5M | |
| China (all official PRC creditors) | 1995 | $4.0M | |
| China (all official PRC creditors) | 1996 | $3.1M | |
| China (all official PRC creditors) | 1997 | $2.2M | |
| China (all official PRC creditors) | 1998 | $1.5M | |
| China (all official PRC creditors) | 1999 | $0.7M | |
| China (all official PRC creditors) | 2000 | $0.0M | |
| China (all official PRC creditors) | 2001 | $6.0M | |
| China (all official PRC creditors) | 2002 | $10.3M | |
| China (all official PRC creditors) | 2003 | $13.4M | |
| China (all official PRC creditors) | 2004 | $13.6M | |
| China (all official PRC creditors) | 2005 | $13.9M | |
| China (all official PRC creditors) | 2006 | $66.9M | |
| China (all official PRC creditors) | 2007 | $8.6M | |
| China (all official PRC creditors) | 2008 | $9.1M | |
| China (all official PRC creditors) | 2009 | $46.8M | |
| China (all official PRC creditors) | 2010 | $150.9M | |
| China (all official PRC creditors) | 2011 | $272.6M | |
| China (all official PRC creditors) | 2012 | $527.5M | |
| China (all official PRC creditors) | 2013 | $758.4M | |
| China (all official PRC creditors) | 2014 | $1,115.9M | |
| China (all official PRC creditors) | 2015 | $1,303.0M | |
| China (all official PRC creditors) | 2016 | $1,521.3M | |
| China (all official PRC creditors) | 2017 | $1,708.1M | |
| China (all official PRC creditors) | 2018 | $1,719.4M | |
| China (all official PRC creditors) | 2019 | $1,778.5M | |
| China (all official PRC creditors) | 2020 | $1,766.0M | |
| China (all official PRC creditors) | 2021 | $1,797.8M | |
| China (all official PRC creditors) | 2022 | $1,782.2M | |
| China (all official PRC creditors) | 2023 | $1,708.2M | |
| China (all official PRC creditors) | 2024 | $1,653.7M | |
| Multilateral banks and funds | 1992 | $1.9M | |
| Multilateral banks and funds | 1993 | $50.5M | |
| Multilateral banks and funds | 1994 | $90.9M | |
| Multilateral banks and funds | 1995 | $184.5M | |
| Multilateral banks and funds | 1996 | $288.6M | |
| Multilateral banks and funds | 1997 | $394.0M | |
| Multilateral banks and funds | 1998 | $536.8M | |
| Multilateral banks and funds | 1999 | $657.1M | |
| Multilateral banks and funds | 2000 | $722.2M | |
| Multilateral banks and funds | 2001 | $770.3M | |
| Multilateral banks and funds | 2002 | $886.4M | |
| Multilateral banks and funds | 2003 | $1,016.0M | |
| Multilateral banks and funds | 2004 | $1,132.1M | |
| Multilateral banks and funds | 2005 | $1,098.8M | |
| Multilateral banks and funds | 2006 | $1,188.2M | |
| Multilateral banks and funds | 2007 | $1,277.8M | |
| Multilateral banks and funds | 2008 | $1,290.3M | |
| Multilateral banks and funds | 2009 | $1,309.5M | |
| Multilateral banks and funds | 2010 | $1,295.6M | |
| Multilateral banks and funds | 2011 | $1,343.3M | |
| Multilateral banks and funds | 2012 | $1,385.6M | |
| Multilateral banks and funds | 2013 | $1,427.7M | |
| Multilateral banks and funds | 2014 | $1,372.5M | |
| Multilateral banks and funds | 2015 | $1,355.6M | |
| Multilateral banks and funds | 2016 | $1,350.3M | |
| Multilateral banks and funds | 2017 | $1,450.1M | |
| Multilateral banks and funds | 2018 | $1,448.1M | |
| Multilateral banks and funds | 2019 | $1,461.5M | |
| Multilateral banks and funds | 2020 | $1,587.8M | |
| Multilateral banks and funds | 2021 | $1,703.7M | |
| Multilateral banks and funds | 2022 | $1,838.5M | |
| Multilateral banks and funds | 2023 | $2,098.3M | |
| Multilateral banks and funds | 2024 | $2,197.0M | |
| Other countries (bilateral) | 1992 | $0.5M | |
| Other countries (bilateral) | 1993 | $178.1M | |
| Other countries (bilateral) | 1994 | $261.8M | |
| Other countries (bilateral) | 1995 | $283.8M | |
| Other countries (bilateral) | 1996 | $334.5M | |
| Other countries (bilateral) | 1997 | $354.2M | |
| Other countries (bilateral) | 1998 | $395.6M | |
| Other countries (bilateral) | 1999 | $476.8M | |
| Other countries (bilateral) | 2000 | $498.1M | |
| Other countries (bilateral) | 2001 | $480.5M | |
| Other countries (bilateral) | 2002 | $500.7M | |
| Other countries (bilateral) | 2003 | $555.0M | |
| Other countries (bilateral) | 2004 | $594.7M | |
| Other countries (bilateral) | 2005 | $552.0M | |
| Other countries (bilateral) | 2006 | $573.7M | |
| Other countries (bilateral) | 2007 | $609.4M | |
| Other countries (bilateral) | 2008 | $663.4M | |
| Other countries (bilateral) | 2009 | $963.2M | |
| Other countries (bilateral) | 2010 | $999.3M | |
| Other countries (bilateral) | 2011 | $1,009.5M | |
| Other countries (bilateral) | 2012 | $936.7M | |
| Other countries (bilateral) | 2013 | $770.3M | |
| Other countries (bilateral) | 2014 | $761.9M | |
| Other countries (bilateral) | 2015 | $772.0M | |
| Other countries (bilateral) | 2016 | $735.8M | |
| Other countries (bilateral) | 2017 | $732.1M | |
| Other countries (bilateral) | 2018 | $485.7M | |
| Other countries (bilateral) | 2019 | $471.9M | |
| Other countries (bilateral) | 2020 | $489.2M | |
| Other countries (bilateral) | 2021 | $456.7M | |
| Other countries (bilateral) | 2022 | $410.2M | |
| Other countries (bilateral) | 2023 | $385.6M | |
| Other countries (bilateral) | 2024 | $365.9M | |
| Source: World Bank, International Debt Statistics (IDS), ряд DT.DOD.DPPG.CD с разбивкой по кредиторам (counterpart-area), обновлено 2025-12-03 | |||
Kyrgyzstan's first Eurobonds (2025)
- Issue size
- $700M
- Coupon
- 7.75% per year
- Maturity year
- 2030
- Closing
- June 3, 2025
Первый в истории КР выпуск суверенных еврооблигаций; программа GMTN $1,7 млрд; листинг Лондон и Гонконгin Russian
Investor demand: over $2,100M
Совокупный спрос инвесторов «свыше $2,1 млрд» — со слов Минфина в пересказе Economist.kgin Russian
Закрытие сделки 3 июня 2025 г.; ценообразование — 27 мая 2025 г. (по Economist.kg)in Russian
Sources: Morgan Lewis (юрконсультант эмитента), пресс-релиз о дебютных еврооблигациях Кыргызской Республики, июнь 2025; Economist.kg, «Кыргызстан впервые разместил суверенные еврооблигации – привлечено $700 млн под 7.75%», 28.05.2025
Servicing and repayments
How much goes to principal and interest — actual and Ministry of Finance forecast.
Public debt servicing: principal and interest
USD million · 2020–2024
- Principal repayment
- Interest
Sources: Минфин КР, Статистический бюллетень по государственному долгу КР №1 (на 31.12.2024), октябрь 2025; Минфин КР, «Информация об обслуживании государственного долга КР за январь-июль 2026 года» (опубл. 05.08.2026)
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| Series | Period | Value | Notes |
|---|---|---|---|
| Principal repayment | 2020 | $286.9M | |
| Principal repayment | 2021 | $251.6M | |
| Principal repayment | 2022 | $269.7M | |
| Principal repayment | 2023 | $443.1M | |
| Principal repayment | 2024 | $479.4M | |
| Interest | 2020 | $110.3M | |
| Interest | 2021 | $96M | |
| Interest | 2022 | $128.2M | |
| Interest | 2023 | $157.6M | |
| Interest | 2024 | $209.8M | |
| Source: Минфин КР, Статистический бюллетень по государственному долгу КР №1 (на 31.12.2024), октябрь 2025 | |||
Debt servicing relative to republican budget revenue
% of republican budget revenue · 2020–2024
- All servicing
- Interest only
Sources: Минфин КР, Статистический бюллетень по государственному долгу КР №1 (на 31.12.2024), октябрь 2025
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| Series | Period | Value | Notes |
|---|---|---|---|
| All servicing | 2020 | 22.8% | |
| All servicing | 2021 | 15.8% | |
| All servicing | 2022 | 12.4% | |
| All servicing | 2023 | 14.8% | |
| All servicing | 2024 | 14.3% | |
| Interest only | 2020 | 6.3% | |
| Interest only | 2021 | 4.4% | |
| Interest only | 2022 | 4.0% | |
| Interest only | 2023 | 3.9% | |
| Interest only | 2024 | 4.4% | |
| Source: Минфин КР, Статистический бюллетень по государственному долгу КР №1 (на 31.12.2024), октябрь 2025 | |||
External public debt servicing (World Bank)
USD million · 1993–2024
Основной долг + проценты по PPG-долгу; методология IDS, без операций с МВФ. Длинный ряд для сравнения периодов.in Russian This is a separate series with different coverage from the Ministry of Finance data above.
Sources: World Bank WDI API, DT.TDS.DPPG.CD — «Debt service on external debt, public and publicly guaranteed (PPG) (TDS, current US$)» (lastupdated 2026-07-13)
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| Period | Value | Notes |
|---|---|---|
| 1993 | $0.4M | |
| 1994 | $13.1M | |
| 1995 | $56.0M | |
| 1996 | $43.4M | |
| 1997 | $29.6M | |
| 1998 | $40.2M | |
| 1999 | $17.2M | |
| 2000 | $39.6M | |
| 2001 | $50.2M | |
| 2002 | $45.9M | |
| 2003 | $28.0M | |
| 2004 | $26.3M | |
| 2005 | $28.7M | |
| 2006 | $34.6M | |
| 2007 | $40.9M | |
| 2008 | $52.8M | |
| 2009 | $57.5M | |
| 2010 | $61.3M | |
| 2011 | $84.6M | |
| 2012 | $73.3M | |
| 2013 | $78.0M | |
| 2014 | $99.6M | |
| 2015 | $117.3M | |
| 2016 | $133.0M | |
| 2017 | $132.4M | |
| 2018 | $155.4M | |
| 2019 | $177.6M | |
| 2020 | $180.8M | |
| 2021 | $157.2M | |
| 2022 | $243.3M | |
| 2023 | $275.6M | |
| 2024 | $288.0M | |
| Source: World Bank WDI API, DT.TDS.DPPG.CD — «Debt service on external debt, public and publicly guaranteed (PPG) (TDS, current US$)» (lastupdated 2026-07-13) | ||
Payment outlook on external public debt
USD million, principal + interest · Ministry of Finance forecast for debt as of 07/31/2026
- Ministry of Finance forecast
Comparison with the forecast as of 12/31/2024
Прогноз обслуживания внешнего долга, сложившегося на 31.12.2024 (до выпуска еврооблигаций). Основная сумма + проценты, млн USD по курсам на 31.12.2024. Значения 2025 и 2026 — суммы кварталов из таблицы 14.in Russian
| Period | Forecast as of 12/31/2024 | Forecast as of 31.07.2026 |
|---|---|---|
| 2025 | 481.8 | no data |
| 2026 | 469.9 | 235.8 (Aug–Dec only) |
| 2027 | 432.0 | 504.0 |
| 2028 | 381.8 | 456.0 |
| 2029 | 386.7 | 463.1 |
| 2030 | 353.8 | 1,096.8–1,105.8 |
| 2031 | 343.6 | 372.6 |
| 2032 | 299.2 | 330.7 |
| 2033 | 272.7 | 303.4 |
| 2034 | 186.1 | 219.6 |
| 2035 | no data | 192.2 |
| 2036 | no data | 183.0 |
| 2037 | no data | 161.8 |
| 2038 | no data | 142.1 |
| 2039 | no data | 135.7 |
| 2040 | no data | 133.2 |
The forecast as of 12/31/2024 also gives a total for 2035–2073 with no annual breakdown: $1,430.4M.
Прогноз обслуживания внешнего госдолга, сложившегося на 31.07.2026 (включая еврооблигации $700 млн со сроком погашения в 2030 г.). 2026 — оставшиеся платежи августа-декабря.in Russian
2030: the bar label in the Ministry of Finance PDF is cut off, so principal is known only as a range — from 1,030 to $1,039M. The bar is drawn to the lower bound; the label shows the whole range including interest. The peak coincides with the Eurobond maturity year.
Sources: Минфин КР, «Прогноз обслуживания государственного внешнего долга, сложившегося на 31.07.2026г.» (опубл. 25.08.2026)
Show as table
| Period | Value | Notes |
|---|---|---|
| 2026, Aug–Dec | $235.8M | partial year, Forecast |
| 2027 | $504.0M | Forecast |
| 2028 | $456.0M | Forecast |
| 2029 | $463.1M | Forecast |
| 2030 | 1,096.8–$1,105.8M | Forecast |
| 2031 | $372.6M | Forecast |
| 2032 | $330.7M | Forecast |
| 2033 | $303.4M | Forecast |
| 2034 | $219.6M | Forecast |
| 2035 | $192.2M | Forecast |
| 2036 | $183.0M | Forecast |
| 2037 | $161.8M | Forecast |
| 2038 | $142.1M | Forecast |
| 2039 | $135.7M | Forecast |
| 2040 | $133.2M | Forecast |
| Source: Минфин КР, «Прогноз обслуживания государственного внешнего долга, сложившегося на 31.07.2026г.» (опубл. 25.08.2026) | ||
Debt at the start and end of each term
Debt at the start and end of each term
USD million and % of GDP, with point dates
Colour of changes:green — change in the desirable direction for the indicatorred — in the undesirable directiongrey — almost unchanged or a neutral indicator (arrow shows direction)how we calculate
Askar Akayev1990–2005recalculated by news.kg
- Start of term
- no data
- End of term
- $2,128M93.9% of GDP · end of 2004
Change: no data
Kurmanbek Bakiyev2005–2010recalculated by news.kg
- Start of term
- $2,128M93.9% of GDP · end of 2004
- End of term
- $2,670M58.5% of GDP · end of 2009
Change: $+541M (+25%)
Roza Otunbayeva2010–2011recalculated by news.kg
- Start of term
- $2,670M58.5% of GDP · end of 2009
- End of term
- $3,080M50.1% of GDP · end of 2011
Change: $+410M (+15%)
Almazbek Atambayev2011–2017recalculated by news.kg
- Start of term
- $3,080M50.1% of GDP · end of 2011
- End of term
- $4,530M58.8% of GDP · end of 2017
Change: $+1,450M (+47%)
Sooronbay Jeenbekov2017–2020recalculated by news.kg
- Start of term
- $4,530M58.8% of GDP · end of 2017
- End of term
- $4,926M63.6% of GDP · end of 2020
Change: $+396M (+9%)
Sadyr Japarovsince 2021
- Start of term
- $4,926M63.6% of GDP · end of 2020
- End of term
- $10,098M39.5% of GDP · as of 06/30/2026 · partial year
Change: $+5,172M (+105%)
Start is the debt on 31 December of the year before the first year of the term, end is on 31 December of the last year; for the incumbent, the latest published snapshot.
The acting presidency (16.10.2020–28.01.2021) belongs to no term as a stock: the end of Jeenbekov's term and the start of Japarov's are the same point on 31.12.2020.
Dollar amounts before 2020 are a news.kg conversion; during devaluations the dollar value of som debt changes sharply.
Sources: Нацстатком КР, табл. 2.03.00.01 «Задолженность органов государственного управления» (данные Минфина КР), млн сомов ÷ курс НБКР на конец года
and 4 more sources
Минфин КР, Статистический бюллетень по государственному долгу КР №1 (на 31.12.2024), октябрь 2025; Минфин КР, «Уточнённая структура государственного долга КР на 31.12.2025» (опубл. 05.03.2026); Минфин КР, «Структура государственного долга КР на 30.06.2026» (опубл. 05.08.2026); Расчёт news.kg: Нацстатком КР, табл. 2.03.00.01 «Задолженность органов государственного управления» (данные Минфина КР), млн сомов / Нацстатком КР, табл. 1.01.00.01 «Национальные счета в текущих ценах»