In 2024, Kyrgyzstan’s gross international reserves grew by $1,851,600,000 and reached $5,088,100,000, a 57.2% increase compared to 2023, Melis Turgunbaev, the Chairman of the National Bank of the Kyrgyz Republic (NBKR), wrote on his Facebook page.
According to Turgunbaev, one of the key factors behind the increase in reserves was the rising price of gold, which accounts for a significant share in the country’s international reserves. In addition, in 2024, the National Bank actively purchased gold from local producers.
Kyrgyzstan is one of the leading gold producers in Central Asia. According to official statistics, in 2024, the country produced 26 tons of gold. Most of Kyrgyzstan’s gold is produced at the country’s largest gold mine, Kumtor. In 2023, the mine produced 13,567 tons of gold.
According to Turgunbaev, the growth of the international reserves has played an important role in maintaining the stability of the country’s economy, helped to strengthen the national currency, allowed to fulfill the state’s external financial obligations, and increased confidence in the country’s financial system.
