Kyrgyz Republic Resident Representative Site
Resident Representative Office in Kyrgyz Republic
This web page presents information about the work of the IMF in Kyrgyz Republic, including the activities of the IMF Resident Representative Office. Additional information can be found on the Kyrgyz Republic and IMF country page, including IMF reports and Executive Board documents that deal with Kyrgyz Republic.
News — Highlights
Press Release: IMF Executive Board Approves US$92.4 Million Extended Credit Facility to Support the Kyrgyz Republic
Kyrgyz Republic and the IMF
May 19, 2015
Growth in the Caucasus and Central Asia is expected to decline by 2 percent this year as a result of lower commodity prices and the economic slowdown in Russia, says the latest regional forecast by IMF staff.
May 14, 2015
The IMF has approved a $92 million loan to the Kyrgyz Republic to back a reform program aimed at bolstering the country’s resilience to the slowdown in Russia and other external factors.
Kyrgyz Republic: Request for a Three-Year Arrangement Under the Extended Credit Facility-Staff Report; and Press Release
Caucasus and Central Asia
Economic activity in the Caucasus and Central Asia (CCA) will continue to decelerate in 2015 mainly as a consequence of lower commodity prices and spillovers from Russia's slowdown. Where fiscal space and available financing allow, temporary fiscal easing would help economies respond to weakening demand and declining remittances. Over the medium term, fiscal consolidation is needed to rebuild depleted buffers and adjust spending plans to the new regional and global economic context. In light of the depreciation of the ruble and the appreciation of the dollar, greater exchange rate flexibility would ease pressure on reserves while helping oil exporters adjust to lower oil prices. Monetary policy may need to be tightened to keep inflation expectations anchored in the face of weakening currencies. Over the medium term, deep structural reforms, particularly to improve the business climate and governance, would raise prospects and make economic growth more inclusive and diversified.