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Sunday, March 26, 2017

IMF releases statement following Kyrgyzstan mission

Following a weeklong visit led by Deputy Division Chief Edward Gemayel, the International Monetary Fund (IMF) released a statement Friday describing Kyrgyzstan's economic health and challenges that lie ahead.

The mission delegation reported the regional slowdown from 2014 is expected to continue as domestic and regional factors remain similar. The IMF predicts that economic trouble in Russia will lower its gross domestic product by 1.7 percent. Gold mining is also expected to drop in 2015.

“The mission held productive discussions with the authorities on a possible IMF program that would support these reforms," Gemayel said. "Over the next few weeks, fund staff will remain in close contact with the authorities as the measures planned to achieve the Kyrgyz authorities’ goals are being finalized." 

During the meetings, IMF and Kyrgyzstan officials discussed measures that the country plans to implement to provide a stable and comprehensive legal framework to increase growth on a macroeconomic scale.

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