EEC: The Coverage of External Debt by Reserves in EAEU Countries Has Increased

- As of October 1, 2025, as reported by the Eurasian Economic Commission, all member states of the EAEU have demonstrated an increase in the coverage of external debt by international reserves compared to the same date last year.

The highest level of external debt coverage is observed in Russia, where it stands at 231.5%. In Armenia, this indicator is recorded at 24.1%, and in Kyrgyzstan – at 58.3%.

Since 2010, external debt has significantly increased: in Armenia, it has grown 2.8 times, in Belarus – 1.3 times, in Kazakhstan – 1.4 times, and in Kyrgyzstan – 2.6 times.

Unlike other countries, Russia has been experiencing a trend of decreasing external debt since 2014, which as of October 1, 2025, is 63.1% of the level in 2010.

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External Debt of the EAEU: In Armenia, Belarus, and Kyrgyzstan, government agency debt predominates, while in Kazakhstan, inter-company lending is prevalent.