{
  "title": "Kyrgyz Republic: 2019 Article IV Consultation-Press Release; and Staff Report",
  "publication": "IMF Staff Country Reports, July 3, 2019",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2019/07/02/kyrgyz-republic-2019-article-iv-consultation-press-release-and-staff-report-47085",
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  "summary": "The economy is growing steadily, benefiting from a benign regional environment, particularly in Russia, the source of most remittances and non-gold export receipts.",
  "sections": [
    {
      "heading": "Economic performance and stabilization outcomes",
      "content": "- The economy is growing steadily, benefiting from a benign regional environment, particularly in Russia, the source of most remittances and non-gold export receipts.\n- Low inflation.\n- Lower fiscal deficits.\n- A stable banking sector.\n- These outcomes point to the success of stabilization policies implemented by the government and National Bank of the Kyrgyz Republic (NBKR, the central bank) under eight successive Fund-supported programs."
    },
    {
      "heading": "External and fiscal vulnerabilities",
      "content": "- High level of remittances: 29 percent of GDP.\n- Concentration of exports on gold: 37 percent of exports of goods.\n- Level and composition of public debt: 56 percent of GDP, 4/5 of which is denominated in foreign currency.\n- Current account deficit: 8.7 percent of GDP.\n- Together these factors make the economy vulnerable to external shocks."
    },
    {
      "heading": "Social outcomes and growth adequacy",
      "content": "- Economic growth has been insufficient to significantly raise living standards and continue to reduce poverty.\n\nSource: Kyrgyz Republic: 2019 Article IV Consultation-Press Release; and Staff Report.\n\n---\n\n Content in this bundle\n\n- 1kgzea2019001\n  - 1kgzea2019001 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - 1kgzea2019001 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: July 3, 2019",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781498324199.002",
    "The economy is growing steadily, benefiting from a benign regional environment, particularly in Russia, the source of most remittances and non-gold export receipts.",
    "Low inflation.",
    "Lower fiscal deficits.",
    "A stable banking sector.",
    "These outcomes point to the success of stabilization policies implemented by the government and National Bank of the Kyrgyz Republic (NBKR, the central bank) under eight successive Fund-supported programs.",
    "High level of remittances: 29 percent of GDP.",
    "Concentration of exports on gold: 37 percent of exports of goods.",
    "Level and composition of public debt: 56 percent of GDP, 4/5 of which is denominated in foreign currency.",
    "Current account deficit: 8.7 percent of GDP.",
    "Together these factors make the economy vulnerable to external shocks.",
    "Economic growth has been insufficient to significantly raise living standards and continue to reduce poverty.",
    "**1kgzea2019001**"
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