Problems of the Growth of the External Public Debt of the Kyrgyz Republic

• Toktosunova, Cholpon ^[1] ; Sharsheeva, Nurmira ^[1] ; Abdukadyrova, Gulnaz ^[2] ; Rasulova, Nazgul ^[3] ; Esenamanova, Saikal ^[4]
  1. [1] Department of Finance and financial technologies named by S. Sulaimanbekov, KYRGYZ ECONOMIC UNIVERSITY NAMED BY M. RYSKULBEKOV, BISHKEK
  2. [2] Department of Banking and Securities Market, KYRGYZ ECONOMIC UNIVERSITY NAMED BY M. RYSKULBEKOV, BISHKEK
  3. [3] Department of Quality and Accreditation, KYRGYZ ECONOMIC UNIVERSITY NAMED BY M. RYSKULBEKOV, BISHKEK
  4. [4] Department of Economics and Foreign Economic Activity, KYRGYZ ECONOMIC UNIVERSITY NAMED BY M. RYSKULBEKOV, BISHKEK

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• Localización: Estudios de economía aplicada, ISSN 1133-3197, ISSN-e 1697-5731, Vol. 39, Nº Extra 5, 2021 (Ejemplar dedicado a: Special Issue Innovation in the Economy and Society of the Digital Age)
• Idioma: inglés
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  • The problems of the growth of public debt affect an increasing number of states in the modern world. Most countries record a significant shortage of their resources when making domestic investments and cover the state budget deficit and carry out socio-economic transformations. This lack of funds led to the formation of an economic debt system. At the same time, with the liberalization and globalization of financial markets, there will be an increase in the dependence of national economies on external replenishment. When carrying out economic transformations, most of the modern world countries resort to using external and internal sources of financing.The Kyrgyz Republic is no exception to this rule and today is largely dependent on external funding from foreign donors. At the same time, the lack of a consistent policy in attracting and using external and internal financial resources has led to the formation of significant external debt, which does not allow for economic transformations to ensure the country’s economic security. As a result of this study, recommendations were formed for the Ministry of Finance of the Kyrgyz Republic, which proposes a balanced policy of attracting expensive foreign loans to reduce the debt burden. In this study, the principles of dialectical logic, the unity of the logical and the historical, and generally scientific methods of cognition were used. Analysis, synthesis, consistency, special comparisons, groupings, classifications, generalization can be distinguished.