«Thanks to the monetary policy of the National Bank, the economy, businesses and people were reliably protected from the latest external shocks,» the Economy Minister of Kyrgyzstan Daniyar Amangeldiev said.
According to him, without well-coordinated and effective work of the National Bank, the consequences could have been much more pitiful. The Minister of Economy stressed that the role of the National Bank was clearly seen during the crises, which occurred in 2008, 2014 and this year, 2022.
«Despite the sharp shocks in the financial markets, the skillful actions of the National Bank managed to mitigate the shocks and prevent panic. As for the exchange rate, the National Bank skillfully managed market expectations and convinced skeptics of the need for the monetary policy it pursued. The commercial banks of the country, which trusted the National Bank and supported the policy of smoothing the exchange rate and maintaining stability in the domestic market, including the foreign exchange market, should also be commended in this part,» Daniyar Amangeldiev concluded.
