As of October 1, 2019, Tajikistan’s external debt amounted to 2.890 billion U.S. dollars, which is 34 million U.S. dollars fewer compared to January 1, 2019, according to Ministry of Finance (MoF) Secretariat.
As of January 1, 2019, the country’s external debt reportedly amounted to 2.924 billion U.S. dollars. As of January 1, 2019, Tajikistan’s external debt-to-GDP ratio was 38.9 percent.
At the beginning of the last quarter of this year, the debt owed by the government has amounted to 2.748 billion U.S. dollars, which is 95 percent of a total external debt.
As of October 1, 2019, the government guaranteed debts reportedly amounted to 63.8 million U.S. dollars and debts of state-run enterprises not secured through government guarantees amounted to 31.5 million U.S. dollars.
The remaining 6.1 million U.S. dollars in a total volume of the country’s external debt are debts of the National Bank of Tajikistan (NBT). Tajik central bank now reportedly owes 39.1 million U.S. dollars to the International Monetary Fund (IMF), 4 million U.S. dollars to China and 3 million U.S. dollars to the Islamic Development Bank (IsDB).
China remains Tajikistan’s largest creditor. Tajikistan now reportedly owes more than 1.2 billion to the Export-Import Bank of China (China Eximbank).
Besides, Tajikistan has relatively large debts to the World Bank (310 million USD), the Asian Development Bank (270 million USD) and the Islamic Development Bank (129 million USD).
Despite unsettled debts, Tajikistan intends to borrow another 354.7 million USD in 2020.
Meanwhile, the World Bank analysts note that the loans for public investment projects (particularly from China), the issuance of domestic debt to support the energy sector (TJS 530 million), and the issuance of a US$500 million Eurobond in September 2017 are the primary drivers of the rise in Tajikistan’s external debt.
