According to data from the EEC, against the backdrop of the overall increase in debt in the EAEU, Kyrgyzstan's external debt has risen by 10.1%.
The total external debt of Kyrgyzstan as of October 1, 2025, amounted to 12.8 billion US dollars, whereas a year earlier it was 11.7 billion dollars.
The majority of Kyrgyzstan's external debt is formed through direct investments in the form of intercompany lending, which reached 1.8 billion US dollars. Additionally, a significant portion consists of liabilities from other economic sectors — 4.3 billion dollars, as well as debts from the banking sector — 1.3 billion dollars.
As for the government bodies of Kyrgyzstan, their debt as of the reporting date amounted to 5.2 billion US dollars, which is a decrease compared to October 1, 2024, when it exceeded 5.6 billion dollars. The liabilities of monetary regulation authorities are negligible, totaling 213 million dollars.
For comparison, the highest growth in external debt in the EAEU is observed in Armenia — 12.5%, while in Russia this figure has decreased by 0.4%.
Kazakhstan, in turn, demonstrates the highest absolute growth in debt among the union countries, amounting to about 5 billion US dollars.
The structure of external debt varies depending on the EAEU member countries. As of October 1, 2025, in Armenia, Belarus, and Kyrgyzstan, the largest share is held by the debt of government bodies, while in Kazakhstan, the debt from direct investments (intercompany lending) predominates, and in Russia, the debt from other sectors.
