MP Meikinbek Abdaliev asked the Chairman of the National Bank, Tolkunbek Abdygulov, today at a parliamentary session how the litigation on Kumtor would affect the national currency.
The head of the National Bank replied that the Kyrgyz som is in free circulation.
«Som is not tied to Kumtor. It was introduced in 1993 and is subject to market price. Legal proceedings will not directly affect the currency, it could indirectly, in particular, on the inflow of foreign investment, internal capital outflow, remittances — these all in complex. The international reserves of the National Bank are $2,700 million. This will be enough for six months,» Tolkunbek Abdygulov said.
Deputies of the Parliament took note of the interim report of the state commission for checking the activities of Kumtor. The term of work of the state commission has been extended by three months. The deputies also agreed to impose external management on the company.
Centerra Gold Inc. has already announced start of arbitration proceedings against the government of Kyrgyzstan.
