Economy

Kyrgyz foreign debt nearly $3 billion

Asker Sultanov
Sunday, 18-December-2011

 

BISHKEK: Kyrgyzstan’s foreign debt is now US $2.8 billion (130.3 billion KGS), and its domestic debt totals US $250m (11.6 billion KGS), Parliamentary Budget and Finance Committee Chairman Akylbek Zhaparov said during December 16 parliamentary hearings.
“Servicing the foreign debt will cost Kyrgyzstan US $106.2m (4.9 billion KGS) in 2012,” he said, adding that such a high debt could harm the country’s economy. “Borrowing money does little to solve the problems it’s meant to solve: developing infrastructure and the energy industry and other sectors,” he said.
Measures “to improve the mechanisms for reaching decisions on loan agreements so that we reduce possibilities for corruption and poor use of allocated funds” are necessary, he said.
Zhaparov suggested the government give parliament a 2012-2014 borrowing plan and the Finance Ministry reduce the budget deficit by increasing oversight of already-concluded loan agreements. He also recommended parliament constantly monitor work on reaching loan agreements with international financial institutions.
Central Asia on Line

 



    

Top Stories

Black Cap Williamson banned from bowling

WELLINGTON: New Zealand batsman Kane Williamson has been banned from bowling his occasional off-spin in international cr...

Punjab govt. seeks four-month time for LB polls

ISLAMABAD: Punjab government has sought four-month time from Supreme Court (SC) for holding local bodies election in the...

Car bombings kill at least 33 people in Iraq

BAGHDAD: A new wave of car bombs ripped through commercial areas in the Iraqi capital and areas to the south Tuesday, ki...

Altaf, Zardari discuss law & order in Sindh

KARACHI: Muttahidat Qaumi Movement (MQM) chief Altaf Hussain and former president and co-chairman of Pakistan Peoples Pa...

White House weighs petition to deport Justin Bieber

WASHINGTON: As if Barack Obama didn't have enough problems to deal with already, his administration now is being asked t...

Sindh CNG stations reopen after 24 hours

KARACHI: CNG stations across Sindh including Karachi reopened after 24-hour closure at 8:00 AM today (Tuesday), media re...

Gas leakage blast kills 1, hurts 3 in Quetta

QUETTA: An explosion occurred at a house due to gas leakage, killing at least one person and wounding three others here ...

Ministry of CAD decisions put students,teachers & parents in a fix

Islamabad:Ministry of Capital Administration and Development (CAD) indecisive attitude put the students as well as paren...

10-year-old maid allegedly tortured to death in Lahore

LAHORE: A 10-year-old girl, who works as maid, was allegedly tortured to death in Lahore, medi reported.Sources said tha...

Five friends voluntarily embrace death: police

THATTA: Police after initial investigation claimed that five friends, who were allegedly killed in Noori Jam Tamachi, vo...

Pakistan wants good relations with all neighbouring countries: PM Nawaz

ISLAMABAD: Prime Minister Nawaz Sharif has said that Pakistan wanted good relations with all the neighbouring countries....

IHC dismisses Musharaf’s pleas; verdict issued

ISLAMABAD: Islamabad High Court (IHC) on Thursday issued 11-page detailed verdict over the intra-court appeal filed by f...

Pakistan to get $550m after IMF review meeting on Dec. 19

WASHINGTON: International Monetary Fund (IMF) first quarter review meeting on Pakistan’s loan programme will be held on...

Kayani thanks Corps Commanders for extending support

RAWALPINDI: The 166th Corps Commanders Conference was held at General Headquarters on Thursday.   Outgoing Chief of Ar...

3 women held captive for 30 years: UK police

LONDON: Three women have been freed after spending 30 years held captive in a south London home, including one woman be...

Iran has slowed work on atomic facilities: IAEA

NEW YORK: Iran appears to have dramatically slowed work on its atomic energy program since the summer, U.N. officials s...

Young Frenchman too heavy to fly will go home by ship

NEW YORK CITY: A young Frenchman who weighs 230 kilograms (500 pounds) and was deemed too heavy to fly on a jetliner ar...

Ex-military ruler Pervez Musharraf released

ISLAMABAD: Adiala Jail authorities have formally released the country’s former military strongman General (retd) Pervez...

Bolivia coca ambush leaves 4 security force members dead

LA PAZ: A weekend ambush and hostage-taking involving police and Bolivian coca growers has left four people dead, offic...

Muslim pilgrims ritually stone devil as hajj nears end

MINA: Throngs of Muslim pilgrims took part in devil-stoning ritual for a second day Wednesday in Saudi Arabia's Mina Va...


Feature / Analysis

  • Does Israel know the meaning of

    The siege of Gaza is entering its third week and the Palestinian death...

    Read More »

  • What Are You Trying To Hide, Mr. Obama?

    Western leaders and their media would have us believe that Russian-bac...

    Read More »

  • Blinded by Israel, Visionless in Gaza

    The Power and the IgnominyThe US Senate votes unanimously to defend Is...

    Read More »

  • The Israeli Pogrom of Gaza

    Political BestialityLet’s start with terms: “bestiality,” bestial is m...

    Read More »


Opinion

  • Opportunities Lost With Election Delays

    This year's election has dragged-out longer than any other similar pro...

    Read More »

  • Exclusive: A US-backed militia runs amok in Afghanistan

    Afghan militias have accumulated a lengthy record of human rights abus...

    Read More »

  • Terrorists Still Thrive in Pakistan: NDS

    Afghan intelligence officials have maintained that the recent offensiv...

    Read More »

  • Hinduism in a Tizzy

    Muslims are least interested in what happens to the latest Dharmayudh ...

    Read More »