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Kyrgyz government starts collecting money to pay off country’s external debt

The government of Kyrgyzstan officially started collecting money to pay off the external debt of the country. The press service of the Ministry of Finance reported.

The draft government decree On Approval of the Provision on Accumulation and Use of Special Account «Civil Initiative to Support the Social and Economic Development of the Country» Funds was developed.

The project is considered as one of the mechanisms for improving the well-being of the people of Kyrgyzstan, achieving economic and financial independence and sustainable economic growth by accumulating voluntary funds transferred by citizens, domestic and foreign investors, international organizations, interested in assisting in improvement of the economic condition of the republic.

In addition, a supervisory board of 13 people was created, which will include representatives of the Presidential Administration, the Parliament, the Government, the Ministry of Finance, the Ministry of Economy, the National Bank, NGOs and the State Committee for National Security.

The Ministry of Finance will keep accounting of the received funds. It will report once a quarter.

Recall, on June 14, the Prime Minister Mukhammedkaly Abylgaziev said in Parliament that the government intended to open a special account to raise funds from those who want to help the state.

Earlier, public accounts were opened twice to pay off the foreign debt of the country. Both have been closed.

In 2007, Almazbek Atambayev signed an order to open a public account in the National Bank. The first account in soms was opened in June and closed on July 24, 2012.

Only 803,817.77 soms were collected for the period.

The second account was also opened in 2007, but in dollars. Even less money — $ 3,350 — were collected. It was closed in 2012, and the money was converted into soms (157,955.85) and transferred to the account of the Ministry of Finance.