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Kyrgyzstan Republic Sustainable Public Debt Management and Restructuring

United Nations Development Program

On the Phone


Geopolicity was contracted by the United Nations Development Program (UNDP) in Kyrgyzstan to provide technical support to the Ministry of Economy and Finance of the Kyrgyz Republic in (i) exploring avenues for restructuring its external debt to its bi- and multilateral creditors; (ii) identifying concrete and feasible options for the subsequent design of instruments in the government’s priority/preferred areas; and (iii) make recommendations to enhance the capacities and systems of the units in the Ministry dealing with debt management. Geopolicity was selected based on its relevant business, financial, and economic analyses, as well as hands on expertise from debt restructuring in other countries to inform the scope and design of this support.


Geopolicity was contracted to work with Government to provide the following key support offers:


- Support the government in articulating policy objectives for debt management based on national development goals, sustainable development principles and SDGs;

- Review factors affecting the country's macroeconomic situation and establish parameters affecting debt sustainability;

- Assist the Ministry in establishing a menu of viable debt restructuring options for each major creditor, on the basis of best available international experience;

- Provide insight and analysis on the costs and benefits of initiating debt suspension and restructuring through the DSSI and Common Framework; and,

- Deliver an online interactive Seminar Series on Smart Debt Restructuring / Debt Management with international experts to develop government capacities.


Design and Initiation of an official Kyrgyzstan Debt Restructuring Roadmap.


""More depreciation due to external
pressures would further raise public debt while financing constraints could limit fiscal room for
counter-cyclical policies. While securing vaccines is a top priority to contain the pandemic, with
macroeconomic buffers largely exhausted in 2020, policymakers will face tighter constraints
with less room for policy flexibility. Advancing structural reforms would be critical to improve
the business climate and strengthen market confidence."

IMF Kyrgyzstan Republic







Kyrgyzstan Republic

United Nations



Debt Management / Restructuring

Debt Management

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