DUSHANBE, July 28, 2015, Asia-Plus -- In a report released at a news conference in Dushanbe, Lochin Fayzullozoda, First Deputy Chairman of the State Committee for Investments and State-owned Property Management (GosKomInvest), revealed on July 27 that Tajikistan is revising its external borrowing policy.

“Under the country’s new financial policy, Tajikistan’s foreign debt should not exceed 40 percent of the country’s gross domestic product in the future,” Fayzulloyev said.

“Under the new strategy foreign debt management strategy, Tajikistan will borrow money only in the event if the interest rate does not exceed 2 percent and the grace period is 12 years,” Tajik official said.

We will recall that over the first six months of this year, the country’s foreign debt has reportedly declined 34.6 million U.S. dollars (USD) to 2.1 billion USD.  Tajikistan now owes 326.5 million USD to the World Bank and 277 million USD to the Asian Development Bank.  China reportedly remains Tajikistan’s largest creditor – 942 million USD.