Kyrgyz Republic: Request for Disbursement under the Rapid Credit Facility-Staff Report; Staff Statement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Kyrgyz Republic

International Monetary Fund

No 2010/336, IMF Staff Country Reports from International Monetary Fund

Abstract: The Kyrgyz government faces challenges of political turmoil and inter-ethnic flare-ups. The fiscal policy response to the economic crisis is appropriate, but there are limits to the expansion. The balances between revenue and expenditure choices as well as a shortfall in donor budget financing have to be maintained. Debt sustainability requires near and medium-term fiscal consolidation. Monetary policy has to support the post-crisis economic recovery while guarding against signs of exchange rate or inflation pressures. The emphasis on improving governance, transparency, and safeguards is commended.

Keywords: ISCR; CR; disbursement under the Rapid Credit Facility; Kyrgyz authorities; wheat price increase; balance of payments pressure; staff statement; staff appraisal; Commercial banks; Loans; Credit; Asia and Pacific; Central Asia; Global (search for similar items in EconPapers)
Pages: 88
Date: 2010-10-29
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