DUSHANBE, October 18, Asia-Plus – Tajik Finance Minister Safarali Najmuddinov told a news conference in Dushanbe on October 18 that Tajikistan”s national debt now stands at nearly US$830 million, or 32 percent of gross domestic product (GDP).
According to him, Tajikistan external debt to international financial institutions has been US$828 million by the end of the first half-year of 2006, and over the third quarter it has increased by US$1.81 million.
Of the US$829.81 million, US$727 is in direct government debt, which is 28 percent of GDP. Liabilities on commercial loans guaranteed by the government currently total 32 million US dollars. 40m dollars, and US$14.41 million are loans, which are not guaranteed by the government.
According to the minister, Tajikistan’s debt to China in loans taken under government-to-government agreements amounts to US$6 million.
The chief creditors of Tajikistan are international finance institutions: the World Bank, at US$307 million; the Asian Development Bank, at US4100 million; the International Monetary Fund, at US$50.45 million and the Islamic Development Bank, at US$41 million.
Najmuddinov noted that bilateral debts to other countries make 28 percent of Tajikistan’s external debt. “Uzbekistan remains one of our country’s largest creditor – 82 million US dollars, and we owe 36 million US dollars to Russia and 12 million dollars to Turkey,” Najmuddinov noted.
This year, the country’s national budget has stipulated expenditure of US$40 million on serving the country’s external debt, according to him. “To date, US$28 million have been provided for this purpose,” the minister said, noting that of this amount, US$6 million have gone to serving the interest rates.
The minister noted that Tajikistan is able to repay its external debt in fixed time. According to him, their are currently negotiating with Turkey and Kazakhstan the possibility of restructuring Tajikistan’s debts to these country.
