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

International Monetary Fund

No 2012/111, IMF Staff Country Reports from International Monetary Fund

Abstract: 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.

Keywords: ISCR; CR; Three-Year arrangement; Three-Year; request; ECF arrangement; SDR; IMF's executive board; banking sector indicator; Kyrgyz authorities; Capital spending; Global (search for similar items in EconPapers)
Pages: 79
Date: 2012-05-15
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