Narrow Your Choices

Refine By Topic

Refine By Series

Refine By Language

Refine By Date

—

Refine By IMF Taxonomy

Refine By JEL Taxonomy

Refine by LOC Taxonomy

Refine By THEMA Taxonomy

  • Print
  • Save

Middle East and Central Asia > Kyrgyz Republic

You are looking at 1 - 5 of 5 items for :

  • Type: Journal Issue x
  • Foreign Aid x
Clear All Modify Search
Cover IMF Staff Country Reports
Kyrgyz Republic: Request for Purchase Under the Rapid Financing Instrument and Disbursement under the Rapid Credit Facility-Press Release; and Staff Report
International Monetary Fund. Middle East and Central Asia Dept.
This paper focuses on the Kyrgyz Republic’s Request for Purchase Under the Rapid Financing Instrument and Disbursement Under the Rapid Credit Facility. The coronavirus disease 2019 pandemic has hit the Kyrgyz economy very hard and increased an already urgent balance of payments need. All sectors are being severely affected while measures are being taken to stop the spread of the virus. The IMF emergency support addresses the urgent balance of payments need, shores up confidence, and catalyzes donor support. In order to ensure that the financing provided is efficiently spent on addressing the crisis, the authorities have committed to strengthen procurement rules. The health care contingency plan and the initial package of economic measures already adopted by the authorities to provide health and economic relief are welcome, as is the second, larger, package of measures under preparation. In their attached letter of intent, the authorities remain committed to temporarily loosening macroeconomic and financial policies to finance health and economic relief and support a recovery. They have also made additional commitments to strengthen procurement rules, including steps to enhance transparency, to help ensure that financing received is efficiently spent on addressing the crisis.
Keywords:
ISCR; CR; IMF emergency support; support; Executive Board discussion; enterprise; procurement rule; donor support; balance of payments gap; International reserves; Credit; Debt service; COVID-19
Cover IMF Staff Country Reports
Kyrgyz Republic: Request for Purchase Under the Rapid Financing Instrument and Disbursement under the Rapid Credit Facility-Press Release; and Staff Report
International Monetary Fund. Middle East and Central Asia Dept.
The outbreak of the COVID-19 pandemic has weakened the macroeconomic outlook. The authorities have launched a health care contingency plan and an initial package of economic measures, together totaling $31 million (0.4 percent of GDP), and are preparing a second, larger package of economic measures of about $400 million (5.2 percent of GDP). To help address an urgent balance of payments need arising from the pandemic, estimated at about $500 million, the authorities request an additional purchase under the Rapid Financing Instrument (RFI) of 33.3 percent of quota (SDR 59.2 million) and a disbursement under the Rapid Credit Facility (RCF) of 16.7 percent of quota (SDR 29.6 million) under the “exogenous shock” window of the RCF. This follows Board approval on March 26, 2020 of the authorities’ earlier request for the same amounts, before the doubling of the annual access on emergency financing under the “exogenous shock” window of the Rapid Credit Facility (RCF) to 100 percent of quota was approved on April 6, 2020. This additional request will bring the total purchases under the RFI and the disbursements under the RCF to 100 percent of quota in 2020.
Keywords:
ISCR; CR; IMF emergency support; support; Executive Board discussion; enterprise
Cover Policy Papers
Poverty Reduction and Growth Trust Interest Rate Mechanism - Extension of Temporary Interest Rate Waiver
International Monetary Fund
In recent months, a number of Directors have expressed support in the Executive Board for a further extension of the temporary exceptional interest waiver on concessional lending. An extension would send a signal of the Fund’s continued support for Low-Income Countries at a time when the global economic crisis is still ongoing. In view of the related downside risks to the global economic recovery and a decline in the ability of Low-Income Countries to respond to a further weakening of global growth, this paper proposes a further extension of the exceptional interest waiver by two years, to end-2014. This paper also proposes to further extend to April 2013 the existing subsidization of the rate of charge on outstanding Emergency Natural Disaster Assistance and Emergency Post-Conflict Assistance purchases by PRGT-eligible members.
Keywords:
PP; interest rate; PRGT interest rate mechanism; Emergency Post-Conflict Assistance; interest; EPCA credit; PRGT interest rate structure; SDR interest rates increase; PRGT interest rates; Emergency assistance; Interest payments; Credit; Global
Cover Policy Papers
Poverty Reduction and Growth Trust - Review of Interest Rate Structure
International Monetary Fund
This is the first review of the interest rate mechanism approved under the 2009 reforms of the Fund’s concessional lending facilities. The mechanism links the Poverty Reduction and Growth Trust (PRGT) interest rate structure to world interest rates and provides a setting to differentiate interest rates across the various PRGT facilities. The framework requires reviews every two years, with the first such review to be completed by December 31, 2011.
Keywords:
PP; interest rate; PRGT; loan; interest; PRGT interest rate mechanism; PRGT interest rates; PRGT loan; PRGT facilities; SDR rate; PRGT lending; interest rate waiver; Loans; Credit; Emergency assistance; Interest payments; SDR interest rate; Global
Cover IMF Survey
IMF Survey, Volume 35, Issue 20
International Monetary Fund. External Relations Dept.
Murilo Portugal, Agustin Carstens, Kyrgyz Republic, HIPC, central Asia, Indonesian debt, Saudi Arabian economy, Peter Kenen, European Central Bank, ECB, Danish economy, flexicurity,Burundi's economy, aid volatility, Indian and China, Doing Business.
Keywords:
SV; Rodrigo de Rato; Agustín Carstens; economy; Kyrgyz authorities; IMF quota; papers IMF; IMF executive director; management team; Labor markets; Unemployment; Dutch disease; Financial sector stability; Europe; Global; Africa; Central Asia; Asia and Pacific