Kyrgyzstan settles state debt to Uzbekistan

Tashkent, Uzbekistan (UzDaily.com) -- Kyrgyzstan has paid off its state debts to Uzbekistan in full, a source at the Kyrgyz Finance Ministry said.

As part of its debt restructuring, Kyrgyzstan paid Uzbekistan US$8.58 million as the remainder of its total debt before it was due, in three equal installments over two years (2008-09) without interest charged.

The Kyrgyz Finance Ministry transferred a total of US$8.58 million to the Uzbek Finance Ministry in 2008-09 (the last, third payment was made on 27 February 2009), AKIpress reported.

For its part, the Uzbek Foreign Ministry confirmed in a note dated 6 May 2009 that Kyrgyzstan had fully paid off its state debts to Uzbekistan

Kyrgyzstan’s total debt was US$39.35 million.