Kyrgyzstan’s Minister of Economy and Commerce, Bakyt Sydykov, held talks with analysts in Washington on the sidelines of the Spring Meetings of the International Monetary Fund and the World Bank Group, where the country’s macroeconomic stability was discussed.
According to Sydykov, Bishkek is seeking an upgrade to its sovereign credit rating as part of the implementation of the National Development Program through 2030. He noted that engagement with Moody’s is aimed at strengthening international investor confidence and forms part of an ongoing institutional dialogue.
Sydykov said the country is meeting its obligations within the framework of cooperation with the agency and expects further constructive information exchange. He also recalled that last year Moody’s revised Kyrgyzstan’s outlook to “positive” while maintaining the rating at B3, which authorities interpreted as confirmation of ongoing reforms.
The minister added that the country’s economy has grown at an annual rate of 9.5-11% over the past four years, driven by investment, domestic demand, and activity in construction, services, and industry.
Following the meeting with Moody’s, Sydykov also held talks with representatives of U.S. businesses, presenting investment opportunities in logistics, transport infrastructure, and energy, including hydropower.
According to the National Statistical Committee of Kyrgyzstan, investment in fixed capital increased by 25% year-on-year in the first quarter, reaching 77.3 billion KGS ($883.4 million). Domestic investment rose by 20%, while foreign investment increased by 50%.
For comparative sovereign risk ratings on Central Asia see TCA’s Central Asia Balance Sheet.
