Kyrgyz Republic: Second Review Under the Three-Year Arrangement Under the Extended Credit Facility and Request for Modification of Performance Criteria: Staff Report; and Press Release
May 15, 2012
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This paper presents key findings of the Second Review for the Kyrgyz Republic under the Extended Credit Facility. Buoyant revenue collection and significant shortfalls in external financing led to a lower-than-programmed fiscal deficit for 2011. The overall health of the banking sector continued to improve but vulnerabilities remain. Strong adherence to the policies agreed under the IMF-supported program has played an important role in achieving economic recovery and macroeconomic stabilization. The fiscal stance for 2012 is appropriate and reflects pressing social and infrastructure development needs.
Subject: Banking, Capital spending, Expenditure, Fiscal policy, Monetary base, Public debt, Public financial management (PFM), Revenue administration
Keywords: banking sector indicator, Capital spending, CR, ECF arrangement, Global, IMF's executive board, ISCR, Kyrgyz authorities, request, SDR, Three-Year, Three-Year arrangement
Pages:
79
Volume:
2012
DOI:
Issue:
111
Series:
Country Report No. 2012/111
Stock No:
1KGZEA2012001
ISBN:
9781475503579
ISSN:
1934-7685
