IMF Staff Country Reports

Kyrgyz Republic: Second Review Under the Three-Year Arrangement Under the Extended Credit Facility and Request for Modification of Performance Criteria: Staff Report; and Press Release

Publication Date:

May 15, 2012

Electronic Access:

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Summary:

This paper presents key findings of the Second Review for the Kyrgyz Republic under the Extended Credit Facility. Buoyant revenue collection and significant shortfalls in external financing led to a lower-than-programmed fiscal deficit for 2011. The overall health of the banking sector continued to improve but vulnerabilities remain. Strong adherence to the policies agreed under the IMF-supported program has played an important role in achieving economic recovery and macroeconomic stabilization. The fiscal stance for 2012 is appropriate and reflects pressing social and infrastructure development needs.

Series:

Country Report No. 2012/111

Subject:

Banking Capital spending Expenditure Fiscal policy Monetary base Public debt Public financial management (PFM) Revenue administration

Notes:

Also Available in Russian