Kyrgyzstan is worried about the approaching deadline for debt payments to China

Kyrgyzstan, which is burdened by China's debt, is approaching the time of debt repayment, and has begun to worry about how to repay the debt.
According to a Voice of America report on April 19, Kyrgyzstan's previously delayed debt repayments to China are nearing maturity, raising concerns about the Central Asian nation's growing financial dependence on China.
Since independence in 1991, Kyrgyzstan's accumulated total debt has reached about 6.2 billion dollars, accounting for 45% of GDP. While the ratio is lower than that of some developed countries, the high level of debt is a serious problem for the agricultural-based economy, which has struggled since the change of government in 2020.
About $1.7 billion of that loan came from the Export-Import Bank of China, which agreed to defer repayment of $32 million in 2021 amid the virus outbreak. But at present, the payment period of this deferred debt is about to expire, and there are other debts that need to be repaid normally. But China has rejected Kyrgyzstan's proposals to delay the repayment period or to repay in another way.
Chairman of the Kyrgyz Council of Ministers, Akylbek Japarov, said at a government meeting in Ush, Kyrgyzstan's second largest city, on February 2: "We have reached the peak of foreign debt repayment."
Akylbek Japarov also said at the meeting that Kyrgyzstan's budget should allocate 400 million dollars in 2024, 430 million dollars in 2025, and 390 million dollars in 2026 to repay the debt.