Kyrgyz Republic : Request for Purchase Under the Rapid Financing Instrument and Disbursement under the Rapid Credit Facility-Press Release; and Staff Report.

Format:

Book

Government document

Author/Creator:

International Monetary Fund. Middle East and Central Asia Dept.

Series:

IMF Staff Country Reports; Country Report ; No. 2020/158

IMF Staff Country Reports

Language:

English

Subjects (All):

Industries--Social aspects--Congresses.

Industries.

Physical Description:

1 online resource (14 pages) : illustrations

Other Title:

Kyrgyz Republic

Place of Publication:

Washington, D.C. : International Monetary Fund, 2020.

Summary:

This paper focuses on the Kyrgyz Republic’s Request for Purchase Under the Rapid Financing Instrument and Disbursement Under the Rapid Credit Facility. The coronavirus disease 2019 pandemic has hit the Kyrgyz economy very hard and increased an already urgent balance of payments need. All sectors are being severely affected while measures are being taken to stop the spread of the virus. The IMF emergency support addresses the urgent balance of payments need, shores up confidence, and catalyzes donor support. In order to ensure that the financing provided is efficiently spent on addressing the crisis, the authorities have committed to strengthen procurement rules. The health care contingency plan and the initial package of economic measures already adopted by the authorities to provide health and economic relief are welcome, as is the second, larger, package of measures under preparation. In their attached letter of intent, the authorities remain committed to temporarily loosening macroeconomic and financial policies to finance health and economic relief and support a recovery. They have also made additional commitments to strengthen procurement rules, including steps to enhance transparency, to help ensure that financing received is efficiently spent on addressing the crisis.

Contents:

RECENT ECONOMIC DEVELOPMENTS, OUTLOOK AND RISKS POLICY DISCUSSIONS ACCESS, MODALITIES, AND CAPACITY TO REPAY STAFF APPRAISAL TABLES 1. Selected Social and Economic Indicators, 2017-25 2. Balance of Payments, 2017-25 3. Indicators of Capacity to Repay the Fund, 2017-25 APPENDICES I. Letter of Intent.

Notes:

Description based on publisher supplied metadata and other sources.

ISBN:

9781513543536

1513543539