As of January 1, 2024, Tajikistan’s public debt has amounted to 3.6 billion USD, which is equal to 30.2 percent of the country’s gross domestic product (GDP), including external borrowings amounting to 3.2 billion USD, which is 89 percent of the public debt, and internal debt amounting to 400 million USD (11 percent), Finance Minister Faiziddin Qahhorzoda told reporters in Dushanbe on February 16.
The minister emphasized that the external debt-to-GDP ratio is 26.9 percent.
According to him, about 275 million US dollars were earmarked last year for servicing the external debt. Of that total, 187 million USD was reportedly reserved for repayment of the principal, with the rest () about 88 million USD) going toward covering interest.
“Securing government financial obligations has been established within the approved plan and there is no backlog in servicing debts to international financial institutions and ы servicing of international financial institutions and certain countries,” the minister said.
According to data from the Ministry of Finance, the country’s external debt increased by 15 million USD last year.
The Export-Import Bank of China (Eximbank) reportedly remains the largest creditor of Tajikistan – 900 million US dollars.
The principal debt of government Eurobonds (500 million USD) placed in international financial markets also remains outstanding.
Last year, about 36 million USD went toward covering interest on these government bonds. According to the approved schedule, so far only interest on the debt on these securities is paid.
Meanwhile, Sadoi Mardum, a mouthpiece of Tajikistan’s parliament, reported in November last year that Finance Minister Faiziddin Qahhorzoda said on November 15 that as of October 1, 2023, Tajikistan’s public debt amounted to 3.6 billion USD, which is equal to 30.8 percent of the country’s gross domestic product (GDP), including external borrowings amounting to 3.2 billion USD, which is 89 percent of the public debt, and internal debt amounting to 400 million USD (11 percent).
The Ministry of Finance said in November last year that over the first ten months of 2023, 212.2 million USD were earmarked for servicing the external debt. Of that total, 139 million USD was reportedly reserved for repayment of the principal, with the rest going toward covering interest.
Tajikistan continues borrowing money despite unsettled debts. Some sources note that the country’s borrowing program for the next three years provides for borrowing in total 1.1506 billion USD within the next three years, including 381.5 million USD being borrowed in 2024, 377.4 million USD being borrowed in 2025 and 391.7 million USD being borrowed in 2026.
