Tajikistan’s external debt growing
Baku, Azerbaijan, Aug. 24
Almost 95 percent of the external debt of Tajikistan accounts for the funds raised for the needs of the country’s government, the Asia-Plus news agency reported.
The direct government debt, which ensures the performance of government services, amounted to $2.743 billion as of July 1, the Tajik Ministry of Finance said.
Tajikistan’s total external debt for this period was $2.893 billion.
The remaining 5 percent in the structure of the country’s external debt comprises the following:
- debt raised by the National Bank of Tajikistan from the International Monetary Fund to maintain the balance of payments - $71.6 million;
- debt raised by the National Bank of Tajikistan from China - $7 million;
- debt raised by the National Bank of Tajikistan from the Islamic Development Bank - $3.6 million;
- debts with a state guarantee - $36.6 million;
- debts of state companies that don’t have a government guarantee - $31.5 million.
Tajikistan’s external debt increased by $14 million since the beginning of this year - at the beginning of the year, it was $2.879 billion. This amount accounted for 40.3 percent of last year’s GDP of the country.
Servicing of external debt in the first half of this year was implemented in the amount of $90.6 million. During the current year it was planned to attract foreign loans worth $200 million.
There is also a possibility of attracting investments by the end of the year by selling government bonds on international markets.
The Export-Import Bank of China remains the main external creditor of Tajikistan, and the republic owes more than $1.2 billion to this bank. The debt resulting from the sale of government securities on international markets amounts to $500 million. Also, Tajikistan has relatively big debts to the World Bank ($318 million), the Asian Development Bank ($278 million) and the Islamic Development Bank ($112 million).
There are also relatively small debts to the Saudi Fund for Development, the Kuwait Fund for Arab Economic Development, the EurAsEC Anti-Crisis Fund, France, Germany, the European Bank for Reconstruction and Development, the European Investment Fund and the Abu Dhabi Fund for Development.