The external debt of Kyrgyzstan's banks fell to $664.9 million at the start of 2026

The Kyrgyz banking sector’s external debt decreased and stood at $664.9 million as of January 1, 2026. A year earlier, the figure was $971 million, according to data on the structure of external debt in EAEU countries.

Thus, over the course of the year, banks’ debt to non-residents decreased by more than 30%, which led to a reduction in the sector’s dependence on external funding. Overall, the banking sector accounts for a negligible share of the country’s external debt structure, just 5.34%.

Compared to other EAEU countries, the external debt of Kyrgyz banks remains at a minimal level. For example, in Kazakhstan it exceeds $18 billion (+39.4% over the year), in Belarus—about $4.1 billion (-3.8%), in Armenia—about $6.5 billion (+27.1%), and in Russia—more than $110 billion (+17.6%).

As the statistics show, a reduction in banks’ external debt was recorded only in Kyrgyzstan and Belarus. However, this proved insufficient to offset the growth in other member states. Overall, across the EAEU, banks’ external debt increased from $117.1 billion to $139.7 billion, a rise of 19.3%.