Kyrgyz Republic: Kyrgyz Republic—Sixth Review Under the Three-Year Arrangement Under the Extended Credit Facility

Author: International Monetary Fund. Middle East and Central Asia Dept.

Volume/Issue: Volume 2014 Issue 200

Publication date: July 2014

ISBN: 9781498392532

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Topics covered in this book

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Taxation - General , Public Finance , Economics- Macroeconomics , Banks and Banking , Money and Monetary Policy , ISCR , CR , government , ECF arrangement , Kyrgyz authorities , SDR , Kyrgyz government , state government , Kyrgyz portfolio , Kyrgyz program , private sector , bank resolution , Central Asia

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Summary

This paper discusses Kyrgyz Republic’s Sixth Review Under the Three-Year Arrangement Under the Extended Credit Facility. Following exceptionally strong performance in 2013, growth is moderating to a more sustainable pace. The program is broadly on track, with all end-December 2013 quantitative performance criteria and all but one indicative targets (IT) met for end-December 2013. Although three March 2014 ITs were missed, since then there has been progress in rebuilding reserves and enhancing tax collections. The two structural benchmarks for end-December were met. The IMF staff supports the completion of the sixth and final review.