Uzbekistan has increased its debt to Russia.

In 2023, Russia significantly raised the volume of loans extended to other countries, surpassing the mark of $30 billion. This is the highest level since 1999, according to an analysis by the World Bank. The largest loan amounts were directed to Egypt, Bangladesh, and India, reports Daryo.uz citing “RIA Novosti.”

The increase in debt to Russia amounted to $1.3 billion, bringing the total to $30.1 billion. The previous peak was recorded in 1999 at $32.8 billion.

The largest debtor remains Belarus ($7.75 billion, about a quarter of the total). It is followed by Bangladesh ($6.6 billion, 22%) and India ($4.1 billion, 14%). The top five also includes Egypt ($3.3 billion, 11%) and Vietnam ($1.4 billion, 5%).

The most significant increase in debt in 2023 was shown by Egypt (+$1.45 billion), Bangladesh (+$745 million), and India (+$363 million). Uzbekistan raised its debt by $41.3 million, while Afghanistan increased by $19.9 million. Zambia, Yemen, Sri Lanka, Ecuador, Sudan, and Moldova also increased their debts by a total of $26.54 million. Nicaragua received a loan from Russia for the first time since 2003 — $16.9 million.

At the same time, some countries reduced their debt to Russia. Somalia, thanks to the write-off of a significant portion of its debt by Russia, decreased it from $703 million to $49 million. A notable reduction in debt is also observed in Belarus (-$487 million), Serbia (-$117 million), Armenia (-$40 million), and Azerbaijan (-$22 million). Additionally, ten countries completely settled their debts, totaling $82 million.