The state debt of Uzbekistan as of July 1 stood at $24.2 billion, or 35.8% of GDP, according to the Ministry of Finance.
The state external debt amounted to $21.8 billion and the internal debt stood at $2.4 billion.
“The reasons for the growth of the state debt by $858.6 million in the first half of this year are explained by the use of funds received on behalf of the government and under state guarantees to cover the state budget deficit, payment of the principal debt on loans, as well as the exchange rate difference”, the report of the ministry says.
As a result, the balance of funds under external borrowing agreements concluded on behalf of Uzbekistan expanded by $363.4 million and under contracts guaranteed by the state by $319.1 million.
The volume of the external debt portfolio of the country raised from international financial organizations amounted to $10.2 billion.
The Asian Development Bank (ADB) was the largest creditor with $5 billion worth of loans issued. The list of top lenders also includes World Bank ($3.8 billion), State Development Bank of China ($2.2 billion), Japan International Cooperation Agency ($2.2 billion), Eximbank of China ($2 billion), international investors ($1.7 billion), Fund for the Development of Economic Cooperation ($1 billion), Islamic Development Bank ($0.9 billion), Japan Bank for International Cooperation ($0.6 billion), other international financial institutions ($2.4 billion).
Foreign state financial institutions account for 45.1% of the state external debt. (Uzreport/Business World Magazine)
