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The Kyrgyz economy is highly dependent on remittances and foreign aid and does not have access to international capital markets. Inequality is relatively low, but poverty is widespread. The COVID crisis led to a sharp recession with output contracting by 8.6 percent in 2020, public debt rising...
Persistent link: https://www.econbiz.de/10012604390
The economy is growing steadily, benefiting from a benign regional environment, particularly in Russia, the source of most remittances and non-gold export receipts. Low inflation, lower fiscal deficits, and a stable banking sector point to the success of stabilization policies implemented by the...
Persistent link: https://www.econbiz.de/10012109886
In 2009–2017, economies of Armenia, Belarus, Kyrgyzstan and Tajikistan lived through periods of adverse external and … following the sharp depreciation of the Russian ruble, led to fast growth of public debt in Armenia, Belarus, Kyrgyzstan, and …, Belarus, Kyrgyzstan and Tajikistan in 2009 2017 has identified a number of problems that may have certain negative …
Persistent link: https://www.econbiz.de/10013406876
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...
Persistent link: https://www.econbiz.de/10014395137
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...
Persistent link: https://www.econbiz.de/10014396585
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...
Persistent link: https://www.econbiz.de/10014408023
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...
Persistent link: https://www.econbiz.de/10015058624
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...
Persistent link: https://www.econbiz.de/10014411495