IMF Gives Final Approval of PRGF Arrangement for the Kyrgyz Republic

The Executive Board of the International Monetary Fund (IMF) has given its final approval of the three-year arrangement under the Poverty Reduction and Growth Facility (PRGF) for the Kyrgyz Republic for SDR 73.4 million (about US$93 million) to support the government's 2001-04 economic program (see Press Release No. 01/49).

The final decision by the IMF Executive Board was contingent on a decision by the Executive Board of the World Bank on December 4, 2001. That decision concluded that the Kyrgyz Republic's Interim Poverty Reduction Strategy Paper (I-PRSP), entitled Interim National Strategy for Poverty Reduction (I-NSPR), provides a sound basis for World Bank concessional assistance.

This decision will enable the immediate release of a first loan under the PRGF arrangement of SDR 11.7 million (about US$15 million).