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Mission of the International Monetary Fund arrives in Kyrgyzstan

A mission of the International Monetary Fund (IMF) arrived in Kyrgyzstan. The National Bank of the country reported.

The Assistant Director for the Middle East and Central Asia Department Subir Lall participates in the mission. The purpose of the visit of the IMF mission is to discuss the latest trends in the economy, including the state budget of the country.

The mission’s visit will last until November 26, 2019.

 «To assess the economic situation in the regions of the country, the IMF mission visited Naryn region and held discussions with representatives of local authorities, the private sector, schools and medical institutions from November 16 to November 18,» the National Bank said.

In 2015-2018, cooperation between Kyrgyzstan and the IMF was carried out in the framework of an agreement on a three-year economic program — the Extended Credit Facility (ECF). Its goal was to achieve budget stability and a debt situation, ensure stability in the financial sector and carry out structural reforms to increase the growth potential of the economy.

Within the framework of the program, the Kyrgyz Republic had been receiving a loan to support the state budget for three years. On April 8, 2018, it was completed. The new program has not yet been announced.

The country’s authorities continue to discuss possible resumption of the loan program with the financial institution. So, at the end of November, the Kyrgyz delegation held talks with the new Managing Director of the International Monetary Fund Kristalina Georgieva.