News Brief: IMF Gives Final Approval of PRGF Arrangement for the Kyrgyz Republic
December 7, 2001
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).