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20:00 / 18.02.2019 375

Tajikistan announces total foreign debt amount

The Finance Minister of Tajikistan Faiziddin Kahhorzoda, during a meeting with journalists in Dushanbe, noted that total foreign debt of the country amounted to $2 billion 924.2 million, Tajik media said.

Following the results of 2018, the size of external debt of the republic amounted to 38.9% of GDP. During this period, $224 million was spent on paying foreign debt.

The minister also said that last year 12 credit and grant agreements were signed in the amount of $402.6 million. More than $251.1 million, or 62.5% of this amount, are from grant funds. The amount of loans is $120.2 million.

The Government of Tajikistan plans to attract more than $776 million in foreign loans in the next 3 years. This amount is planned to be spent on the development of priority areas of the national economy and on the implementation of 134 projects, some of which are at the implementation stage.

As per the report of the Ministry of Finance, these funds will be attracted from international financial institutions and funds. Loan funds will be preferential, and their repayment period will be 20-40 years. The interest rate on loans will be 0.75% -2% per annum.

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