Uzbekistan’s Public Debt Rises $6.6 Bn in 2025

Uzbekistan’s total public debt increased by $6.6 bn in 2025, reaching $46.85 bn, according to the Ministry of Economy and Finance.

As of January 1, 2026, the country’s external debt rose by $6.1 bn, totalling $39.8 bn, while the domestic debt grew by $542 mln, reaching $7 bn.

International financial institutions remain the largest creditors, holding roughly half of the debt portfolio. Key lenders include the Asian Development Bank (ADB) and the World Bank (WB). During the year, ADB’s share of lending rose to $8.3 bn, while the World Bank’s portion reached nearly $9 bn.

Foreign government institutions also make up a significant part of the debt, with Chinese lenders, including the China Development Bank and Exim Bank, accounting for about $3.9 bn.

The Japan International Cooperation Agency (JICA) has increased its lending activity, with its total credits surpassing $3.1 bn by the end of 2025.

Kursiv also reports that In 2025, microfinance organisations (MFOs) and pawnshops in Uzbekistan issued loans totalling $2.62 bn.

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