Doctor of Economic Sciences Tolonbek Abdyrov commented for IA "Kabar" on an important event: Kyrgyzstan's international reserves have reached over 10 billion dollars for the first time in history. This achievement indicates the financial stability of the country and stability in the financial market, as well as good protection against potential external shocks.
According to Abdyrov, exceeding the reserve of 10 billion dollars is an important step forward for Kyrgyzstan's economy. "This is not just a number, but an indicator of the financial stability of the state. These reserves serve as our 'safety cushion' and are an important tool for protecting the economy from crises and instability. Because of this, during difficult times, the exchange rate of the som remains quite stable," he says.
In comparison, 10 billion dollars in reserves with a GDP of 23 billion dollars accounts for almost 50% of the entire economy of the country. This indicates a significant financial cushion and the ability to withstand negative external impacts.
Kyrgyzstan's external state debt is about 5.6 billion dollars, which means that the country already has the resources to fully cover it. This indicates that Kyrgyzstan does not face a serious debt burden and maintains room for economic maneuvering.
Considering that Kyrgyzstan's economy remains dependent on imports, the presence of large reserves is particularly important. The country acquires many goods from abroad, including food, equipment, and raw materials. Reserves in gold and foreign currency allow Kyrgyzstan to promptly finance imports and smooth out fluctuations in the currency market. The National Bank can use currency interventions to stabilize the situation both during periods of upward and downward pressure on the exchange rate.
Moreover, a high level of reserves relative to the size of the economy serves as a positive signal for investors and international partners. It reflects financial discipline, the resilience of the state, and its readiness to cope with external risks. According to key macroeconomic indicators, Kyrgyzstan is currently in a reliable position and well protected from external economic shocks, according to Tolonbek Abdyrov.
