Ministry of Finance in talks to write off public debt

Bishkek, June 23, 2020 / Kabar /. The issue of writing off public debt is very complex and will take a long time to negotiate carefully, Minister of Finance of the Kyrgyz Republic Baktygul Zheenbaeva told at a briefing in the Government House.

She said that today there is an agreement on the Paris Club member countries on the postponement of this year's payments to 2022, 2023 and 2024.

“These agreements have just begun. We are currently negotiating not just postpone payments, this is not enough, we need a deep restructuring. To solve this issue, the Ministry of Finance has begun work as soon as the first results are available, we will immediately inform you,” said the minister.

She said that a deep restructuring of external debt implies different processes, somewhere partially written off.

“Maybe it will be an exchange for environmental programs for the green economy. Programs that promote the development of the health sector or social assistance are also possible. Therefore, a deep restructuring may take a different form, depending on which country it is and what agreements we can reach in this or that case,” Zheenbaeva explained.