The central banks of Armenia, Kyrgyzstan, and Kazakhstan owe $3.4 billion: who borrowed how much

As of January 1, the total external debt of the central banks of Armenia, Kazakhstan, and Kyrgyzstan amounted to $3 billion 412.3 million. However, the calculations do not include data for Russia and Belarus, since in these countries the debt of regulators is reflected in the overall structure of the banking sector's liabilities and is not separated.

The National Bank of Kazakhstan has the largest debt burden, with external debt amounting to $2 billion 233.1 million, or more than 65% of the total amount of the three countries. Over the past year alone, the volume of external borrowing by the Kazakh regulator increased by $236.9 million.

In second place is the Central Bank of Armenia, whose external debt amounted to $794.8 million. Unlike Kazakhstan, Armenia reduced its liabilities, with the figure falling by $51.7 million over the year (from $846.5 million).

The National Bank of Kyrgyzstan has the lowest debt burden, with external debt of $147.5 million. Despite a 29.7% increase over the year, Kyrgyzstan remains the least indebted regulator in the region. For comparison, the external debt of the National Bank of the Kyrgyz Republic is almost 17 times less than that of the National Bank of Kazakhstan and 5.4 times less than that of the Central Bank of Armenia.