Credit rating agency Moody’s has revised the sovereign credit rating outlook for the Kyrgyz Republic from «stable» to «positive», while affirming the country’s long-term issuer rating at B3. The press service of the Ministry of Economy reported.
Moody’s stated that the outlook revision reflects improvements in the country’s macroeconomic and fiscal indicators, as well as an increase in potential economic growth rates. These developments have been driven by the implementation of key reforms, economic diversification, and active investment in infrastructure.
A key factor highlighted is the decline in public debt, which fell from 64 percent of GDP in 2020 to 37 percent in 2024, which indicates the availability of budget space for further sustainable development.
The agency also emphasized the importance of continuing structural reforms, enhancing governance quality, and reducing external vulnerabilities to enable a potential upgrade of the sovereign credit rating in the future. Analysts note that, if managed effectively, these efforts could lead to a higher rating.
As of 2024, Kyrgyzstan’s sovereign credit rating from Moody’s was classified as «stable.»
The visit of analysts from the international rating agency Moody’s as part of the revision of the sovereign credit rating of the Kyrgyz Republic took place from June 17 to June 19, 2025.
