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Middle East and Central Asia > Kyrgyz Republic

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Cover Policy Papers
A Strategy for IMF Engagement on Social Spending: Case Studies
International Monetary Fund. Fiscal Affairs Dept.
,
International Monetary Fund. Strategy, Policy, &amp
, and
Review Department
This paper uses case studies to explore the nature and extent of past IMF engagement on social spending issues and to draw lessons for future engagement.
Keywords:
PP; IMF staff; Policy advice; public spending; spending efficiency; IMF Policy; IMF engagement; fiscal policy; IMF-supported program; Social assistance spending; Pension spending; Fiscal sustainability; Health care spending; Africa
Cover IMF Staff Country Reports
Republic of Moldova: Selected Issues Paper
International Monetary Fund
The composition of short-term and medium-term adjustment measures will facilitate sufficient short-term adjustment flexibility, and be consistent with medium-term fiscal sustainability. Improving debt resolution instruments will help the banks to regain confidence in lending. Meanwhile, there is a need to consider improvements in its liquidity framework. The main factors that shaped the economic growth model in Moldova in the last decade and the risks of the current growth model are outlined. Public policies can promote growth by identifying and addressing the most binding constraints to development.
Keywords:
ISCR; CR; wage; monetary policy; bank; interest rate; growth model; wage bill; GDP growth; system reform; growth performance; bill measure; Pension spending; Public employment; Wages; Pensions; Global; Eastern Europe; Europe
Cover IMF Staff Country Reports
Russian Federation: Selected Issues
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; CIS market; CIS country; replacement rate
Cover IMF Staff Country Reports
Russian Federation: Selected Issues
International Monetary Fund
This Selected Issues paper for the Russian Federation discusses existing empirical efforts to measure the determinants of cross-country financial integration. Empirical studies that have adopted the gravity-model framework have found that it is generally successful in explaining bilateral financial flows. If the pension gap were to be financed through the budget, the model simulations suggest that fiscal room is best created by lowering government consumption. Consideration should be given to outsourcing the management of the mandatory contributions to private asset managers.
Keywords:
ISCR; CR; CIS market; CIS country; replacement rate; CIS economy; CIS dummy; Pension spending; Pensions; Retirement; Aging; Financial integration; Global
Cover IMF Staff Country Reports
Kyrgyz Republic: Selected Issues and Statistical Appendix
International Monetary Fund
The paper describes recent macroeconomic and financial developments and highlights a number of important medium- and longer-term policy issues. Empirical estimates of potential output growth for the Kyrgyz economy based on a number of different methodologies are presented. Competitiveness and trade policy, social policy issues, namely poverty alleviation and pension reform, are also taken up for discussion. Developments in the banking system since 1998 are described. Fiscal issues are discussed and also statistical data on economic indices are presented.
Keywords:
ISCR; CR; government; Kyrgyz authorities; banking system; Kyrgyzstan; debt service; economic activity; private sector; Pension spending; Pensions; Commercial banks; Wages; Baltics
Cover IMF Working Papers
Fiscal Reform Over Ten Years of Transition
Mr. George C. Tsibouris
and
Mr. Vito Tanzi
This paper analyzes fiscal reforms in transition economies during the decade leading up to 1998. The paper argues that macroeconomic stabilization, price liberalization and privatization—the core reforms visualized by the shock therapy approach—are necessary but not sufficient conditions for a complete transition to a market economy. Further deep changes—such as the creation of new fiscal institutions, changes in incentives and processes, and changes in the role of government—are needed.
Keywords:
WP; tax system; government sector; transition country; General government expenditure; tax revenue; Fiscal policy; fiscal reform; transition; government role; wage bill; general government balance; government apparatus; private sector; government operation; government priority; Tax administration core functions; Privatization; Pension spending; Baltics; Eastern Europe
Cover IMF Staff Country Reports
Ukraine: Recent Economic Developments
International Monetary Fund
This paper reviews economic developments in Ukraine during 1996–99. Output decline continued in 1997 and 1998, especially following the August 1998 crisis in Russia. During this period, Ukraine made substantial progress in reducing inflation, mainly through the implementation of a monetary policy that aimed at keeping the exchange rate broadly stable. However, the fiscal situation remained difficult, despite a sizable adjustment in 1998. Throughout the period, economic policy was influenced by developments in international capital markets.
Keywords:
ISCR; CR; U.S. dollar; gross domestic product; exchange rate; broad money; foreign exchange; debt service; real GDP; Treasury bills and bonds; Pension spending; Currencies; Budget planning and preparation; Baltics; Asia and Pacific
Cover IMF Working Papers
Pension Reform in the Baltics, Russia, and other Countries of the Former Soviet Union (BRO)
International Monetary Fund
Despite their increasing fiscal burden, the public pension systems of BRO countries are failing to provide adequate social protection. Although there is a broad consensus about the need for pension reforms, BRO countries are debating whether to embark on systemic reforms or whether to correct the distortions in their pay-as-you-go (PAYG) pension systems. The paper reviews the measures taken by BRO countries during the transition period to address their pension problems and examines the options for further reform. It makes a strong case for a gradual reform approach aimed at establishing a multi-pillar system over the long run, but initially focused on implementation of “high-quality” reforms of the PAYG system.
Keywords:
WP; pension; pension system; BRO country; country; Pension Reform; Transition; Social Protection; coverage ratio; contribution rate; country authorities; early retirement; retirement age; PAYG system; pension provision; Pension spending; Pensions; Aging; Retirement; Baltics
Cover IMF Policy Discussion Papers
Social Protection in Transition Countries: Emerging Issues
Mr. Sanjeev Gupta
and
Mr. Ke-young Chu
The paper discusses the social protection implications of the weakening financial and administrative capacity of countries undergoing economic transition. The formal sector is shrinking, and unemployment and underemployment are rising rapidly. This is affecting both the revenue base of social protection programs and the ability of these countries to target social benefits. These developments make it imperative for these countries to restructure social benefits, rely more on self-targeting mechanisms to deliver benefits, as well as take immediate steps to improve payroll tax compliance. This is a Paper on Policy Analysis and Assessment and the author(s) would welcome any comments on the present text Citations should refer to a Paper on Policy Analysis and Assessment of the International Monetary Fund, mentioning the author(s) and the date of issuance. The views expressed are those of the author(s) and do not necessarily represent those of the Fund.
Keywords:
PDP; transition country; country; wage; government; wage bill; government cash benefit; wage fund; sector wage; retirement age; earnings history; Wages; Income; Payroll tax; Pension spending; Aging; Baltics; Eastern Europe