KEY ISSUES Context. Performance under the previous Extended Credit Facility (ECF) arrangement, which expired last July, was good. Macroeconomic stability was restored, fiscal consolidation was stronger than planned, monetary policy was enhanced through a new interest rate-based framework, and...

The new trade and labor migration patterns that emerged since the start of Russia's war in Ukraine have provided an unexpected boost to growth. Tax revenue increased considerably since 2021, public debt declined below 50 percent of GDP by end-2022, and inflation while still elevated has...

This Selected Issues paper discusses governance challenges in the Kyrgyz Republic. This paper aims to assess various aspects of governance in the Kyrgyz Republic and identify some of the key challenges in this area. Governance reforms in the Kyrgyz Republic can leverage linkages to the global...

The 2022 Article IV Consultation discusses that the economy of the Kyrgyz Republic has shown resilience to the spillovers from the war in Ukraine and is estimated to have grown by 5.5 percent in 2022, driven by gold production, trade, transportation, and agriculture. Strong output growth in 2022...

The Kyrgyz Republic has stabilized with the formation of a new coalition, but political uncertainty remains. Despite a slump in gold production and delays in donor financing, monetary and fiscal policies remained prudent. Improving the business climate, good governance, and strong institutions...

The paper focuses on the workings of the Medium-Term Development Program (MTDP) of the Kyrgyz Republic. Raising living standards as well as taking measures for reducing poverty have been cited as the main priority areas of the strategy, and the measures to be undertaken to bring about...

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...

The economy has shown some resilience in the face of adverse regional shocks but potential growth is constrained by persistent structural challenges, particularly lagging productivity and dependence on gold, remittances, and foreign aid. Satisfactory performance under the program during the...

The shift to a parliamentary democracy in 2010 provided an impetus for the Kyrgyz Republic to reform the economy. Despite the recent progress, the Kyrgyz Republic faces significant economic challenges, which will require actions on many fronts. Improving the business climate, governance, and...