Published
09/19/2025, 12:29In the coming years, a significant portion of budget expenditures on servicing external debt will be related to Eurobonds that Kyrgyzstan placed in the summer of 2025. According to the draft budget, more than 4.8 billion KGS will be required annually just to pay interest on these securities.
According to the Ministry of Finance, as of 30 June 2025, the republic's external debt amounted to $5.24 billion, of which 13.3% or $700 million is accounted for by Eurobond obligations.
In the forecasts for 2026–2028, the cost of servicing Eurobonds will remain stable:
There are no payments on the principal amount of the debt in the period under review, as the securities have a maturity of 5 years, which means that the republic will have to repay the entire amount in 2030.
It should be noted that Kyrgyzstan's sovereign Eurobonds were issued for the first time with a coupon rate of 7.75%. The bonds were purchased by more than 100 international investors from the United Kingdom, the United States, Europe and Asia.
