Doctor of Economic Sciences Tolenbek Abdyrov expressed his opinion in an interview with IA "Kabar," regarding the recent achievement of Kyrgyzstan — the country's international reserves have exceeded the mark of 10 billion dollars for the first time. He emphasized that this indicates financial stability and resilience in the market, as well as reliable protection against external economic shocks.
According to Abdyrov, such a level of reserves is a significant step forward for Kyrgyzstan. "These are not just numbers, but a real 'safety cushion' that helps the country withstand external crises and instability. It is precisely because of this course of the som that it manages to remain relatively stable even in difficult times," he added.
In terms of economic scale, reserves of 10 billion dollars against a GDP of about 23 billion dollars represent almost half of the entire economy of Kyrgyzstan. This indicates a solid financial buffer and a high capacity of the country to cope with external challenges.
As for the external state debt, it amounts to approximately 5.6 billion dollars. "This means that Kyrgyzstan has enough resources for its full coverage, which allows it to avoid serious debt pressure and leaves room for economic maneuvering," noted the expert.
Moreover, the presence of significant international reserves is particularly important for an economy that largely depends on imports. The country purchases a variety of goods, including food, equipment, and raw materials. Reserves in the form of gold and foreign currency provide the opportunity for prompt financing of imports and smoothing out fluctuations in the currency market. The National Bank can use currency interventions to stabilize the situation both during upward and downward pressure on the exchange rate.
Additionally, a high level of reserves relative to the size of the economy serves as a positive signal for investors and international partners. It demonstrates financial discipline, state resilience, and the ability to manage external risks. Overall, according to key macroeconomic indicators, Kyrgyzstan is currently in a stable position and well protected from external economic shocks, concluded Tolenbek Abdyrov.
