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Kyrgyzstan may be first regional recipient of aid from IMF

Kyrgyzstan may be the first regional recipient of aid from the International Monetary Fund to fight against coronavirus. S&P Global Platts reports.

The International Monetary Fund is considering providing financial support to countries in the Middle East and Central Asia, a dozen of whom have requested help as the coronavirus outbreak takes a toll on their economies.

«The fund has several tools at its disposal to help its members surmount this crisis and limit its human and economic cost, and a dozen countries from the region have already approached the Fund for financial support,» said Jihad Azour, director of the Middle East and Central Asia Department. «Work is ongoing to expedite approval of such requests—later this week, our Executive Board will consider a request from the Kyrgyz Republic for emergency financing, likely the first such disbursement since the outbreak of the COVID-19 pandemic.»

IMF is ready to mobilize its $1 trillion lending capacity to help members cope with the coronavirus outbreak and its economic fallout, Managing Director Kristalina Georgieva said earlier this month. She added that some 20 countries have requested financial help from the organization.

At least 44 confirmed cases of COVID-19 have been registered in Kyrgyzstan as of today.

The state of emergency and curfew were introduced in Bishkek, Osh and Jalal-Abad cities, in Nookat and Kara-Suu districts of Osh region, in Suzak district of Jalal-Abad region from March 25 to April 15.