Kyrgyz Republic

Kyrgyz Republic
Author: International Monetary Fund
Publisher: International Monetary Fund
Total Pages: 85
Release: 2011-12-14
Genre: Business & Economics
ISBN: 1463929218

The Kyrgyz Republic is emerging from a deep political crisis. In April 2010, a popular uprising toppled the previous regime and internal ethnic conflict in June 2010 exacerbated the already difficult political situation. The crisis has adversely affected economic activity and near-term growth prospects, straining the government’s financial position, which has been worsened further by critical reconciliation, recovery, and reconstruction needs. Continued growth in Russia and Kazakhstan, combined with high gold prices, contributed to an expansion in remittances and gold exports by 33 percent and 74 percent, respectively.

Kyrgyz Republic

Kyrgyz Republic
Author: International Monetary Fund. Middle East and Central Asia Dept.
Publisher: International Monetary Fund
Total Pages: 126
Release: 2017-06-02
Genre: Business & Economics
ISBN: 1484302885

This paper discusses the Kyrgyz Republic’s Third Review under the Three-Year Arrangement under the Extended Credit Facility (ECF) and the Request for Modification of Performance Criteria (PCs). Program conditionality has been broadly met. All end-June 2016 quantitative PCs and indicative targets have been met. All but two structural benchmarks were met. The review of subsidies was not completed on time owing to limited capacity. The authorities are requesting modification of PCs to reflect the revised macroeconomic outlook and the availability of the fourth disbursement on completion of the review. The IMF staff supports completing the third review of the authorities' program under the ECF arrangement.

Kyrgyz Republic

Kyrgyz Republic
Author: International Monetary Fund. Monetary and Capital Markets Department
Publisher: International Monetary Fund
Total Pages: 142
Release: 2016-06-30
Genre: Business & Economics
ISBN: 1498320783

External shocks continue to shape both the outlook and policies. A weaker-than-expected external environment is hurting growth, straining the budget, and raising public debt and banking sector vulnerabilities. The authorities’ response to shocks has focused on exchange rate flexibility and unorthodox stimulus measures, although the budget deficit in 2015 was well within the program target. For 2016, the authorities are undertaking additional efforts to adhere to the program’s fiscal commitments. Financial sector vulnerabilities and risks are high and rising. Slow progress toward passing the Banking Law that aims to introduce a modern bank resolution system and increase the independence of the National Bank of the Kyrgyz Republic remains a concern. The change in the cabinet just six months after the elections underlines the fluidity of the country’s political situation.

The Kyrgyz Republic

The Kyrgyz Republic
Author: International Monetary Fund. Middle East and Central Asia Dept.
Publisher: International Monetary Fund
Total Pages: 158
Release: 2014-08-12
Genre: Business & Economics
ISBN: 1498337147

This Poverty Reduction Strategy Paper on Kyrgyz Republic highlights that the period 2009 through filled with symbolic events marked a new milestone in the Kyrgyz Republic development and will enter the country’s history as the period of strength test for the Kyrgyz statehood and entire public administration system including socio-political, economic, environmental, financial and other areas of development management. The country development background during that period included the world financial crisis and growing uncertainty on world markets which created risks for all market actors including the Kyrgyzstan’s key trade partners such as Russia, Kazakhstan, and China. The government officially declared the country’s sustainable development-oriented policy. For Kyrgyzstan as a country with its still high poverty level, particularly in rural areas, and limited natural and financial resources, the sustainable development policy seems today’s logically and politically justified choice. The sustainable development model itself suggests striving for systemic, comprehensiveness, and balance in development. Transition to sustainable development suggests considering economic growth through the prism of human values and reasonable use of natural resources.