As of July 1, 2024, Tajikistan’s public debt has amounted to 3.6 billion USD, which is equal to 27 percent of the country’s gross domestic product (GDP), including external borrowings amounting to 3.2 billion USD, which is 88 percent of the public debt, and internal debt amounting to 400 million USD (12 percent), the Deputy Finance Minister, Yusuf Majidi, told reporters in Dushanbe on August 9.
According to him, the volume of the country’s external debt is equal to 23.7 percent of the country’s gross domestic product.
Over the first half of this year, about 135 million US dollars have been earmarked for servicing the external debt. Of that total, 92/2 million US dollars have reportedly been reserved for repayment of the principal, with the rest of 42.8 million US dollars going toward covering interest.
Securing government financial obligations has reportedly been established within the approved plan and there is no backlog in servicing debts to international financial institutions and certain countries.
“Every year, Tajikistan spends no more than 10 percent of its budget for servicing the external debt,” Mr. Majidi added.
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.
Despite unsettled debts, 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.
