Kyrgyz Republic: Request for Disbursement under the Rapid Credit Facility-Staff Report; Staff Statement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Kyrgyz Republic
Volume/Issue:
Volume 2010
Issue 336
Publication date: October 2010
ISBN: 9781455208579
$20.00
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Topics covered in this book
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Business and Economics , Banks and Banking , Exports and Imports , Money and Monetary Policy , Public Finance , ISCR , CR , disbursement under the Rapid Credit Facility , Kyrgyz authorities , wheat price increase , balance of payments pressure , staff statement , staff appraisal , Commercial banks , Loans , Credit , Asia and Pacific , Central Asia , Global
Summary
The Kyrgyz government faces challenges of political turmoil and inter-ethnic flare-ups. The fiscal policy response to the economic crisis is appropriate, but there are limits to the expansion. The balances between revenue and expenditure choices as well as a shortfall in donor budget financing have to be maintained. Debt sustainability requires near and medium-term fiscal consolidation. Monetary policy has to support the post-crisis economic recovery while guarding against signs of exchange rate or inflation pressures. The emphasis on improving governance, transparency, and safeguards is commended.
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