Kyrgyzstan prepares draft resolution on payment of external debt through nationwide fundraiser

Bishkek, Nov. 12, 2020. /Kabar/. The Ministry of Finance has prepared a draft resolution of the Government of the Kyrgyz Republic "On accumulating funds to pay off the external debt of the Kyrgyz Republic".

According to the document, the purpose and objective of the project is to reduce the burden on the state budget to pay obligations to foreign donors and international financial institutions, as well as to accumulate funds voluntarily transferred by legal entities and individuals to repay the external debt of the Kyrgyz Republic.

It is noted that in connection with incoming appeals from population concerning assistance to the Government in repayment of external debt of the Kyrgyz Republic, as well as in order to ensure accounting of receipts and use of funds for repayment of external debt in separate accounts, the draft resolution has been initiated.

In October this year, Kyrgyz activists have announced the start of a nationwide campaign to raise funds to pay off the country's external debt.

“We all know that the day is approaching when we need to start paying off the debts that the country took from other countries. As of July 30, the external debt of Kyrgyzstan amounted to USD 4 billion 169.6 million. Of these, USD 1 billion 776 million or 43% in the form of a loan - debt to the Eximbank of China. And we, mother activists, initiated a fundraiser to pay off the external debt. We will not collect the money ourselves, but create conditions for this collection,” said MP, chairwoman of the Ayaldar Keneshi public association Ainuru Altybaeva.

The MP stressed that their movement is already holding a number of negotiations on the implementation of this campaign. They opened a bank account. In addition, negotiations are underway with Kyrgyzaltyn OJSC, because there are those who want to hand over their gold jewelry, and Kyrgyzaltyn will convert these jewelry into cash money. A people's council will be created to monitor the spending of these funds. And negotiations are still underway with Kabar News Agency in order to track these funds on the website of the news agency.