The EFSD meets with representatives from the Kyrgyz Republic and Tajikistan to discuss the outcomes of a research project on debt sustainability, financial needs, and adaptation to external shocks

27 August 2020

The EFSD has presented the results of its efforts to stress test debt sustainability and financial needs of the Kyrgyz Republic and Tajikistan.

Moscow, 26 August 2020. The Eurasian Fund for Stabilization and Development (EFSD) discussed with representatives of the Kyrgyz Republic and Tajikistan’s governmental agencies the outcomes of its research into debt sustainability, financial needs, and adaptation to external shocks.

The participants in the meetings focused on the realities and prospects of the post-pandemic period. The research emphasises that prolonged shocks can significantly increase the countries’ financial needs and require fiscal adjustments. At the same time, calculations confirm the relative stability of debt positions. As concerns Tajikistan, a special emphasis was placed on concessional financing, which should help to reduce the burden on the country’s solvency.

During the discussion, representatives from the Kyrgyz Republic and Tajikistan provided valuable advice on debt sustainability analysis, suggested what additional issues needed to be highlighted, and proposed topics for future research. The EFSD will continue to analytically track the dialogue with representatives of its member countries.

Additional Information:

The Eurasian Development Bank (EDB) is an international financial institution founded by Russia and Kazakhstan in January 2006 with the mission to facilitate the development of market economies, sustainable economic growth, and the expansion of mutual trade and other economic ties in its member states. The EDB's charter capital totals US $7 billion. The member states of the Bank are the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, and the Republic of Tajikistan. 

The Eurasian Fund for Stabilization and Development (EFSD) amounting to US$8.513 billion was formed on 9 June 2009 by the governments of the same six countries. The objectives of the EFSD are to assist its member countries in overcoming the consequences of the global financial crisis, ensure their economic and financial stability, and foster integration in the region. The EFSD member countries signed the Fund Management Agreement with Eurasian Development Bank giving it the role of the EFSD Resources Manager.

The EDB Media Centre:

Alexander Savelyev +7 (985) 765 23 59 (Moscow)

Azima Sapargaliyeva +7 (777) 750 00 08 (Almaty)

Sergey Gorbachev +7 (916) 727 22 00 (Moscow)

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