Sadyr Japarov reassures smooth repayment of external debt once more
President of Kyrgyzstan, Sadyr Japarov, has commented on the country’s external debt situation. In a statement posted on Facebook, he stated that the country’s public debt reached approximately $5 billion from the time of independence until 2020.
Japarov emphasized that the full repayment of this debt, including interest, will coincide with his own and his team’s tenure. Despite facing challenges such as budget deficits, the pandemic, post-pandemic crisis, and global crises, Japarov proudly stated that they have always made timely payments.
“As long as there is peace and stability in our republic, we will have the strength to continue paying,” Japarov asserted.
He attributed their ability to pay to various opportunities, including a threefold increase in the budget compared to 2020. Additionally, Japarov highlighted that corruption has been reduced by 90%, leading to an increase in the budget.
“In 2019, our people were concerned about how we would pay our external debt. There was a fear of losing our lands. However, we no longer face such a problem. On the contrary, we are improving wages, pensions, and benefits while simultaneously paying off the external debt. We are also strengthening our army,” Japarov explained.
The President further emphasized their investment in modern equipment worth approximately $2 billion. Infrastructure development, such as roads, schools, kindergartens, railways, large hydroelectric power stations, and airports, are also underway. The government has even purchased four aircraft for domestic flights and 1,000 buses.
According to Japarov, the peak of external debt repayment is expected in 2024. He emphasized the importance of covering the debt using their own budget funds rather than relying on loans or grants.
“If the money used to cover our current external debt remained in our treasury, we could accomplish even more,” concluded President Japarov.
The President’s statement showcases a positive outlook on Kyrgyzstan’s ability to manage its external debt and highlights the country’s progress in various sectors despite facing several challenges.
