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Flexibility of som helped Kyrgyzstan to overcome 2014 crisis

«The flexibility of the Kyrgyz som, combined with the openness of the economy, served as a shock absorber and helped to recover quickly after the economic shocks of 2014,» said IMF Deputy Managing Director Tao Zhang at a conference on the 25th anniversary of som.

According to him, the stability of the currency demonstrated that the Kyrgyz people made the right decision when they introduced it. The expert is sure that the stability of som and its contribution to the economic prosperity of Kyrgyzstan will only be strengthened thanks to the work of the National Bank on modernization of the foundations of monetary policy.

«The IMF as a member of the international community appreciates cooperation with Kyrgyzstan, its official bodies and development partners. We are determined to support the further modernization of monetary policy and the resolution of the current problems through recommendations and technical assistance,» Tao Zhang stressed.

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