Moody’s has confirmed Kyrgyzstan’s long-term credit rating at B3, revising the outlook from stable to positive. Managing Director of the agency’s commercial division David Eldridge announced during a meeting with Finance Minister of Kyrgyzstan Almaz Baketaev.
The parties also discussed prospects for strengthening the country’s investment image, attracting external financing, and further cooperation to improve the credit rating.
According to the Ministry of Finance, Kyrgyzstan’s economy continues to show steady growth — real GDP increased by 11.5 percent from January to July 2025. In May, the country issued Eurobonds worth $700 million for the first time, with investor demand exceeding supply threefold. The bonds were issued for five years with a 7.75 percent coupon rate.
The raised funds (approximately 10 billion soms) have been allocated for the purchase of gold, placement of deposits (24 billion soms), and budget loans (26 billion soms at 6 percent annual interest). The income generated is accumulated in the public debt mitigation account to service external obligations.
The ministry noted that Kyrgyzstan’s financial system remains stable: the republican budget surplus in 2024 amounted to 34 billion soms, while the consolidated budget for 2025 is projected at around 1 trillion soms.
