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Middle East and Central Asia > Kyrgyz Republic

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Cover Technical Assistance Reports
Republic of Tajikistan: Technical Assistance Report-Public Investment Management Assessment with the Climate Module
International Monetary Fund. Fiscal Affairs Dept.
This report summarizes findings from a Public Investment Management Assessment (PIMA) and the Climate Module (C-PIMA) conducted for Tajikistan. The assessment evaluated the country's public investment management practices, including their climate sensitivity. Tajikistan performs well in certain areas but faces significant gaps in others. Parallel external and internally financed processes present recurring challenges across Tajikistan’s public investment management framework, limiting consistency and strategic alignment. Implementing a comprehensive framework for overseeing all projects, regardless of funding source, would significantly improve efficiency and climate responsiveness.
Keywords:
Republic of Tajikistan; Public investment management; PIMA; C-PIMA; climate change; Green PFM; climate-sensitive infrastructure.; D. Investment allocation; authorities of the Republic of Tajikistan; investment project; Republic of Tajikistan analysis; Investment planning; priorities in Tajikistan; management institution; Public investment spending; Budget planning and preparation; Infrastructure; Central Asia; Central Asia and the Caucasus
Cover IMF Staff Country Reports
Kyrgyz Republic: 2019 Article IV Consultation-Press Release; and Staff Report
International Monetary Fund. Middle East and Central Asia Dept.
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 government and National Bank of the Kyrgyz Republic (NBKR, the central bank) under eight successive Fund-supported programs. However, the economy remains vulnerable to external shocks because of the high level of remittances (29 percent of GDP), the concentration of exports on gold (37 percent of exports of goods), the level and composition of the public debt (56 percent of GDP, 4/5 of which is denominated in foreign currency), and the level of the current account deficit (8.7 percent of GDP). In addition, economic growth has been insufficient to significantly raise living standards and continue to reduce poverty.
Keywords:
ISCR; CR; deficit; IMF government Finance Statistics Manual; Kyrgyzstan
Cover IMF Staff Country Reports
Kyrgyz Republic: 2019 Article IV Consultation-Press Release; and Staff Report
International Monetary Fund. Middle East and Central Asia Dept.
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 government and National Bank of the Kyrgyz Republic (NBKR, the central bank) under eight successive Fund-supported programs. However, the economy remains vulnerable to external shocks because of the high level of remittances (29 percent of GDP), the concentration of exports on gold (37 percent of exports of goods), the level and composition of the public debt (56 percent of GDP, 4/5 of which is denominated in foreign currency), and the level of the current account deficit (8.7 percent of GDP). In addition, economic growth has been insufficient to significantly raise living standards and continue to reduce poverty.
Keywords:
ISCR; CR; deficit; IMF government Finance Statistics Manual; Kyrgyzstan; Kyrgyz authorities; headline inflation; GDPand PV; liability positions vis-à-vis nonresident; Loans; Public and publicly-guaranteed external debt; Debt sustainability analysis; Global
Cover Policy Papers
FY2016 - FY2018 Medium-Term Budget
International Monetary Fund
For the net administrative budget, the FY 16–18 medium-term budget (MTB) proposal includes: In FY 16, an unchanged budget envelope in real terms, for the fourth year in a row. To accommodate new and ongoing strategic priorities of the Fund within a flat envelope, efforts to reallocate resources away from lower-priority activities and achieve efficiency gains were stepped up both at the departmental level and across the institution. Savings measures implying a reallocation of resources of close to 5 percent of the net administrative budget were identified through this process. The bulk of these savings would be used to help meet the new priorities highlighted in the Global Policy Agenda and in Management’s Key Goals, while preserving room at the departmental level to further reduce work pressures, phase in the new streamlining measures and, more generally, cope with business uncertainties and unanticipated demands. This robust prioritization effort implies difficult trade-offs and the willingness to cut lower-priority activities in order to create space for new initiatives. For FY 17–18, as a baseline assumption, a flat real budget envelope as well. Against the backdrop of a robust income position, the Fund’s medium-term budget formulation is guided primarily by considerations of prudence and credibility. The medium-term spending path will depend on new demands placed on the institution, and the scope for further reprioritization, and will be reassessed in the context of the FY 17–19 budget.
Keywords:
PP; right; PPM discussion; Fund; budget envelope; program review; Fund resource; staff paper; Budget planning and preparation; Personal income; Credit; Financial Sector Assessment Program; Global
Cover IEO Annual Report 2013
IEO Annual Report 2013
International Monetary Fund. Independent Evaluation Office

Abstract

The Independent Evaluation Office (IEO) evaluation on International Reserves: IMF Concerns and Country Perspectives was discussed by the Board in December 2012. This evaluation examined the IMF’s analysis of the effect of reserves on the stability of the international monetary system and its advice on reserve adequacy assessments in the context of bilateral surveillance. In the multilateral context, the evaluation acknowledged the IMF’s broader work stream on the international monetary system but noted that this work had not sufficiently informed the analysis and recommendations regarding reserves. The IEO evaluation of The Role of the IMF as Trusted Advisor was discussed by the Board in February 2013. This evaluation found that perceptions of the IMF had improved, but that they varied markedly by region and country type. Recognizing that there will always be an inherent tension between the IMF’s roles as a global watchdog and as a trusted advisor to member country authorities, the evaluation report explored how the IMF could sustain the more positive image it had achieved in the aftermath of the recent global crisis. The evaluation found that among key challenges facing the IMF were improving the value added and relevance of IMF advice and overcoming the perception of a lack of even-handedness.

Keywords:
IEOR; IEO; evaluation; IMF concern; IEO evaluation; IMF performance; office of budget; discretionary budget; IMF-World Bank Spring Meetings; staff allocation; Fiscal consolidation; International reserves; Balance of payments need; Budget planning and preparation; Global; Sub-Saharan Africa; Caribbean; IEO work program; budget proposal; IEO budget; IMF surveillance; International monetary system; Poverty reduction strategy
Cover Policy Papers
Report on Fiscal Safeguards Pilots
International Monetary Fund
This paper reports on the results of a pilot exercise on fiscal safeguards conducted by the Fiscal Affairs Department (FAD) during FY2013. The exercise was launched following an independent review of the existing safeguards policy in 2010 in which many Directors encouraged staff to highlight fiscal safeguards risks in cases where a substantial portion of the resources provided by the Fund for balance of payments support is channeled to state treasuries for budget purposes. Pilot fiscal safeguards exercises were conducted for five countries: Antigua and Barbuda, Cyprus, Greece, Ireland, and Kyrgyz Republic.
Keywords:
PP; treasury; State treasury; funding; government; country; FAD PFM TA mission; audit institution; banking arrangement; PEFA assessment; fund staff; government bank accounts; TA engagement; Fiscal risks; Budget planning and preparation; Fiscal accounting and reporting; Auditing
Cover IMF Staff Country Reports
Kyrgyz Republic: Medium-Term Development Program: Poverty Reduction Strategy Paper
International Monetary Fund
In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
Keywords:
ISCR; CR; budget deficit; civil society; poverty level; customs union; development program; public-private partnership
Cover IMF Staff Country Reports
Kyrgyz Republic: Medium-Term Development Program: Poverty Reduction Strategy Paper
International Monetary Fund
This paper focuses on the Medium-Term Development Program for the Kyrgyz Republic. The aim of this program is to put the economy of the country into a sustainable vector of development and improve the budget status to prevent social effects, increase living standard, and reduce poverty in the country. Implementation of the reforms anticipated by the Program will help to reduce the State budget deficit, enhance the fight against corruption, improve living standards, and decrease social tension in the society.
Keywords:
ISCR; CR; budget deficit; civil society; poverty level; customs union; development program; public-private partnership; living standard; economic development; natural resources; public finance; judicial system; Budget planning and preparation; Central Asia
Cover Policy Papers
Staff Guidance Note on the Fund’s Engagement with Countries in Fragile Situations
International Monetary Fund
This note aims to provide country teams with broad guidance on engagement with countries in fragile situations. The aim of the guidance note is to help staff maintain focus on issues specific to countries in fragile situations. While engagement should focus on the issues and principles laid out in the note, there is, of course, scope for staff to tailor engagement to country specific circumstances beyond proposed practices.
Keywords:
PP; country; The Fund; financing; policy; Fund country team
Cover Policy Papers
Kyrgyz Republic - Joint Economic Assessment Report for the Kyrgyz Republic Donor Conference, Bishkek, July 27, 2010
International Monetary Fund
At the time of the 2005 review of the Fund’s transparency policy, it was agreed that information on key trends in implementation of the transparency policy would be circulated to the Board regularly, along with lists indicating the publication status of reports discussed by the Board. The set of tables provided in this report updates the last Key Trends2 with information on documents published through December 2009.
Keywords:
PP; private sector; economic crisis; Kyrgyz authorities; interim government; economic activity; economic recovery; Infrastructure; Budget planning and preparation; Housing; Securities; Global; Central Asia; Asia and Pacific