Kyrgyzstan Steps Up Market Push With Bond Sale Plans and Gold-Backed Token

Kyrgyzstan is intent on boosting its presence in international markets, following up on a debut dollar bond with more debt offerings and advancing a gold-backed stablecoin.

The government raised $700 million with its first eurobond sale in May, joining a growing list of Central Asian countries courting global investors. The administration may return to market, while wholly state-owned Eldik Bank OJSC is preparing for an inaugural sale in February and is in the final stages of signing contracts with banks for the deal, according to the Finance Ministry.