The EFSR reported on how the Ministry of Finance of the Kyrgyz Republic allocated funds from the placement of Eurobonds.

Елена Краснова Economy
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In May 2025, the Kyrgyz Republic issued eurobonds worth $700 million, which led to an increase in external debt by 3.4%, bringing its share to 27.9% of gross domestic product (GDP). This data is presented in the report of the Eurasian Fund for Stabilization and Development.

According to analysts' information, the funds raised from the issuance of eurobonds were used for the recapitalization of JSC "Eldik Bank." In turn, this bank invested these funds in 15-year government short-term obligations with an interest rate of 3% per annum amounting to 60 billion soms (about $700 million) in the primary market.

As a result, domestic debt increased by 4.6% and accounted for 16.7% of GDP. The total amount of the country's debt reached 44.6% of GDP, as noted in the fund's report.

Photo on the main page: AFP / VANDERLEI ALMEIDA.
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