Kyrgyzstan's President Sadyr Japarov has expressed confidence in the country's ability to manage its external debt, stating that even if it reaches $10-15 billion, there is no cause for concern. In 2020, the country's external debt stood at around $5 billion, accumulated over 30 years. Japarov highlighted three projects that may not yield returns within 40 years, attributing the inflated costs to inefficiencies in project implementation.
Japarov emphasized the necessity of these projects for Kyrgyzstan but criticized the government for mismanagement, stating that the funds were misappropriated. He assured that Kyrgyzstan will repay its entire external debt by 2035, coinciding with his administration's term. Japarov stressed that the country's economic situation has improved, ensuring smooth debt repayment.
Moving forward, Japarov pledged to allocate borrowed funds to specific, profitable projects. He cited the construction of Kambaratinskaya HPP-1 as an example of a self-sustainable project that will be repaid through project revenues. The World Bank's favorable terms for a $500 million credit further support Kyrgyzstan's debt management strategy.
Japarov's vision includes borrowing for profitable ventures without burdening the national budget or citizens. He highlighted plans for small and medium hydropower projects with shorter payback periods, aiming to attract private investors and utilize budget resources efficiently. Japarov's commitment to prudent debt management and strategic investments reflects Kyrgyzstan's drive towards sustainable economic growth.
