Kazakhstan Has the Lowest Level of Dependence on China in Central Asia

Central Asian countries show varying levels of debt dependence on China. Kyrgyzstan has the highest share, while Kazakhstan has the lowest, Orda.kz reports, citing Financekaz.

According to data published by the Geostatistics channel, Kyrgyzstan has the highest level of debt dependence on China among the countries in the region, at 30.5%.

• Tajikistan ranks second with 16.1%, followed by Turkmenistan at 13.4%.
• Uzbekistan shows a more moderate level of dependence, at 7.5%.
• Kazakhstan has the lowest figure, at 3.6%, which is significantly lower than in neighboring countries.

The higher this figure, the greater the burden on the economy and the less room the state has to maneuver. This means that countries with a high share of Chinese loans in their debt structure are more dependent on an external creditor. Against this backdrop, Kazakhstan appears to be the most diversified. The share of Chinese debt is significantly lower than the regional average, which means there is more room for maneuver and fewer political risks.Financekaz writes. 

It is also worth noting the diversification of projects: Chinese capital is not concentrated in strategic sectors of Kazakhstan’s economy.

Original author: Rimma Karatayeva

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