Arzubek Jumaev, head of the Kyrgyz Finance Ministry’s Public Debt Department, confirmed to the publication that the agency is currently negotiating with investors for a possible first sale of euro and U.S. bonds as early as 2025.
“The size of the issue and investment banks will be determined later,” Zhumayev said.
It is also reported that the Finance Ministry expects an improvement in its credit rating from Moody’s to attract investors. Kyrgyzstan’s credit rating is at B3, six indicators below the required investment grade.
Earlier, Moody’s rating agency changed Kyrgyzstan’s credit rating from negative to stable, which, according to the Kyrgyz Ministry of Economy and Commerce, indicates the country’s balance of risks and positive dynamics in its financial and economic issues.
In addition, in September this year, the authorities signed an agreement with other Western rating agencies, Standard and Poor’s and Fitch, to collaborate on assessing credit risks and improving Kyrgyzstan’s investment attractiveness.
It should be noted that the Ministry of Finance of Kyrgyzstan places government securities guaranteed by the state. These are state treasury bills and state treasury bonds. The securities issues are placed monthly on the Kyrgyz Stock Exchange. In 2024, Kyrgyzstan’s domestic debt increased by $232 million, which indicates good demand for government securities. Loans on government securities currently amount to $1.8 billion.
