Kyrgyz Republic: Third Review Under the Poverty Reduction and Growth Facility and Request for Waiver of Performance Criteria

Author: International Monetary Fund

Volume/Issue: Volume 2003 Issue 216

Publication date: July 2003

ISBN: 9781451821437

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Topics covered in this book

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Banks and Banking , Exports and Imports , Money and Monetary Policy , Public Finance , Public Policy - Social Services and Welfare , ISCR , CR , end-June benchmark , net domestic assets , authority , benchmark , Kyrgyz authorities , staff appraisal , PRGF arrangement , Currencies , Total expenditures , Central Asia

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Summary

The Kyrgyz Republic has made good progress under the three-year Poverty Reduction Growth Facility arrangement. Executive Directors welcomed the strong macroeconomic performance and low inflation. They appreciated the fiscal consolidation by containing expenditure growth and improving tax collection. They welcomed the prudent monetary and strong exchange rate policies. They stressed the need to press ahead with privatization, restructure the power sector, and strengthen the financial system. They commended the successful completion of the third review under the Poverty Reduction and Growth Facility (PRGF) arrangement, and approved a waiver.