DUSHANBE, October 23, 2009, Asia-Plus  -- Over the third quarter of this year Tajikistan’s external debt increased by some 51 million U.S. dollars to 1.524 billion dollars.

Minister of Finance Safarali Najmiddinov told reporters in Dushanbe today that current Tajikistan’s foreign debt now amounts to 32.6 percent of the country’s gross domestic product (GDP).

As of July 1, 2009, the country’s external debt amounted to 1.47328 billion U.S. dollars, or 25.4 percent of GDP.

Over the first nine months, 132.5 million somoni (equivalent to more than 30.3 U.S. dollars) have been used for servicing Tajik government’s direct debt, the minister said.  Of this amount, 61.2 million somoni have been provided to repay the principal and 71.2 million somoni have been used to repay interest on the debt.

Najmiddinov attributed the debt increase to newly attracted loans aimed for implementation of investment projects in the energy sector as well as for construction and rehabilitation of roads and construction of an international terminal at the Dushanbe airport.

According to him, the debt structure is favorable despite a certain increase.  “The loans have been provided at low interest rates, ranging from 1 to 1.5 percent, and they are repayable in the periods from 24 to 40 years,” Najmiddinov said.

He added that China is the main creditor of Tajikistan and Tajikistan now owes 600 million U.S. dollars to this country.