ВНЕШНЕДОЛГОВОЕ ПОЛОЖЕНИЕ СТРАН ЦЕНТРАЛЬНОЙ АЗИИ НА РУБЕЖЕ ВЕКОВ: ОЦЕНКА И РЕТРОСПЕКТИВНО-СОПОСТАВИТЕЛЬНЫЙ АНАЛИЗ

Year 2012, Volume: 2 Issue: 54, 7 - 16, 01.05.2012

м. м. хасанов

Abstract

The burden of External Debt (ED), created as a result of inappropriate policies, and financial-economic activity
of modern management, may change the terms of the economic system towards infringing the interests of future
generations.
On issues of ED and methods of its solution for the future, hardly received any attention from scholars and
practitioners in the Central Asia (CA) countries.
Under the new conditions of globalization of the existing system of evaluation criteria of estimation of external
debt situation of countries is imperfect, because in the classical form in the denominator of three of the four criteria
are taken into account Income from Exports (IE) and the more is last, the situation of the countries is like it would
seem the best. However, this does not take into account the export structure, which entails the subsequent rises in
ED. Therefore, the article offers a different set of criteria, which allows to reliably estimate the position of external
debt situation of the countries.
During the 13 years (1997 to 2009) analyzed the Gross Index (GI) of ED among CA countries 10 years has
held a privileged position of Tajikistan, and inappropriate 11 years of Kazakhstan. Rate of decline from previous
years GIED took place: for 6 years in Uzbekistan, 3 years in Tajikistan, two years in Kyrgyzstan. Unfortunately,
there was the growth rate of GIED all these 13 years in Kazakhstan, 10 years in Kyrgyzstan, 9 years in Tajikistan, 6
years in Uzbekistan.
For 13 years GIED \ GDP has exceeded its limit during that period in Kyrgyzstan, 10 years in Kazakhstan, 7
years in Tajikistan, and only during 2002. in Uzbekistan.
By GIED \ IE had the average position - Kazakhstan, Uzbekistan, and Tajikistan, and improper - Kyrgyzstan.
The costs of servicing ED / IE exceeded its limit in Kazakhstan for 10 of the 13 analyzed years and only in
2001 in Kyrgyzstan.
At ED per capita / per capita income six years occupied a privileged position 2 years Uzbekistan. And the improper
position of 5 years occupied Kazakhstan and Kyrgyzstan, 3 years - Tajikistan.