Published
11/03/2026, 11:57Kyrgyzstan is considering the possibility of its first issuance of government bonds denominated in Chinese yuan in 2027. The authorities are exploring options for listing on the Hong Kong or Shanghai stock exchanges. This was revealed by the Governor of the National Bank, Almaz Baketaev, in an interview with Bloomberg.
According to him, the government is working on a potential deal in collaboration with financial adviser Oppenheimer & Co. Meetings with potential investors in Hong Kong are also scheduled for November 2026.
Baketaev attributed the interest in the Chinese currency to its growing role in Kyrgyzstan’s economy, the expansion of trade with China and the increase in the yuan’s share of the country’s international reserves.
“We have tried the Western market, and now it is probably time to look to the East. Bonds there are likely to be cheaper,” noted the head of the National Bank.
The final decision on the placement and its timing will depend on the situation in the financial markets.
It should be recalled that in 2025, Kyrgyzstan entered the international Eurobond market for the first time and raised $700 million.
