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Sunday, July 23, 2017

IMF reaffirms commitment to Kyrgyzstan after economic talks

After an International Monetary Fund mission to Kyrgyzstan, led by Edward Gemayel, the IMF released a statement on the discussions held about economic reform in the nation, reiterating that it is standing by, ready to provide aid.

The statement said growth was projected to slow down and that inflation was expected to rise because of adverse regional conditions specifically affecting Kazakhstan and Russia, causing them to reduce wages. Cross-border trade has been hurt by stricter border-crossing policies and re-exports from China.

The statement also said Kyrgyzstan authorities are planning reform policies that aim to strengthen the economy through multiple measures, including diversifying the local economy and enhancing macroeconomic stability.

“The mission held productive discussions with the authorities on a possible IMF program that would support these reforms. We plan to remain in close contact with the authorities as they finalize the planned measures in the reform program to achieve their goals. A follow-up mission is expected to return to Bishkek in the coming period to continue discussions," Gemayel said.

He also expressed his gratitude for the warm welcome and hospitality he received from the Republic of Kyrgyzstan.

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