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Middle East and Central Asia > Kyrgyz Republic

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Cover IMF Staff Country Reports
Kyrgyz Republic: Selected Issues
International Monetary Fund. Middle East and Central Asia Dept.
Selected Issues
Keywords:
ISCR; CR; cost; firm; Kyrgyzstan; GDP; government
Cover IMF Staff Country Reports
Kyrgyz Republic: Selected Issues
International Monetary Fund. Middle East and Central Asia Dept.
This Selected Issues paper identifies constraints to economic growth in the Kyrgyz Republic, using the Hausmann-Velasco-Rodrik diagnostic approach. It finds that large infrastructure gaps, weak governance and rule of law, and high cost of finance appear to be the most binding constraints to private investment and growth. Additional critical factors are the quality of education and onerous regulations. There is room to improve both the quality and cost/efficiency of education spending. Although relatively low, labor costs have exceeded productivity growth and there is room to improve labor market efficiency. Despite important investments, the infrastructure gap remains large and the country ranks relatively low on infrastructure quality. Weak governance undermines growth through various channels: investment, human capital, and productivity. Weak institutions increase the cost of doing business and make the appropriation of investment returns less certain, overall reducing investor’s risk appetite to invest. Public debt is on the high side and the composition of spending is tilted toward current spending.
Keywords:
ISCR; CR; cost; firm; Kyrgyzstan; GDP; government; CCA oil exporter; ratios in the Kyrgyz Republic; reform determination; efficiency of education spending; CCA oil importer; state guarantee; consumption threshold; tariff policy; below-cost tariff; redundancy cost; Electricity; Tariffs; Private investment; Energy sector; Consumption; Global
Cover Policy Papers
Kyrgyz Republic - Ex Post Assessment of Longer-Term Program Engagement
International Monetary Fund
This report reviews the Kyrgyz Republic’s economic performance under Fund-supported programs from early 2005 to mid-2010. Two Fund-supported programs are assessed: the March 2005 Poverty Reduction and Growth Facility (PRGF, which expired in May 2008), and the December 2008 Exogenous Shock Facility (ESF, which expired in June 2010). Earlier Fund-supported programs were discussed in the Kyrgyz Republic’s first Ex Post Assessment (EPA), which was completed in November 2004. The assessment does not cover performance under the Rapid Credit Facility (RCF), which was approved by the Executive Board on September 15, 2010.
Keywords:
PP; Kyrgyzstan; Kyrgyz authorities; government; ESF; Kyrgyz economy; Kyrgyz republic; financial crisis; broad money; growth performance; Kyrgyz growth; exchange rate; monetary policy; government operation; Kyrgyz Republic-corruption perception ndex; Energy sector; Financial sector; Global
Cover IMF Working Papers
Quasi-Fiscal Deficits and Energy Conditionality in Selected CIS Countries
Mr. Tapio Saavalainen
and
Joy Mylène ten Berge
Quasi-fiscal deficits of public utility companies are common in all member countries of the Commonwealth of Independent States (CIS). They constitute a significant impediment to efficient resource allocation and endanger macroeconomic stability. This paper presents a simple framework for measuring and monitoring such deficits and highlights their macroeconomic relevance. It reviews the progress under IMF conditionality aimed at correcting these imbalances during 1993-2003. The paper suggests that the extensive conditionality under the IMF-supported programs has yielded only limited progress in reducing the energy sector's financial imbalances. In conclusion, different policy options are discussed in light of the lessons learned.
Keywords:
WP; state capture; aluminum smelter; country authorities; state debt; trading company; Energy; quasi-fiscal deficit; transition; conditionality; governance; CIS country; enterprise restructuring; energy enterprise; government decree; General government cash deficit; nonviable enterprise; Tariffs; Energy sector; Electricity; Privatization; Europe; Central Asia
Cover IMF Staff Country Reports
Mongolia: Selected Issues and Statistical Appendix
International Monetary Fund
This Selected Issues paper and Statistical Appendix analyzes growth and recovery in Mongolia during transition. The paper describes the major sources of economic growth in Mongolia since the early 1980s in the context of a basic growth accounting framework. It discusses Mongolia’s post-transition growth performance relative to other transition countries. This paper also summarizes the main weaknesses of the existing national accounts statistics and reviews the recent developments and prospects for the main components of GDP.
Keywords:
ISCR; CR; authority; firm; Mongolia; tertiary sector; GDP deflator; gas distribution company; physical capital; enterprise performance; low income; animal loss; transition economy; output recovery; cashmere company; beverage company; market economy; Privatization; Energy sector; Agricultural sector; Total factor productivity; Central and Eastern Europe
Cover Policy Papers
Lessons from the Real-Time Assessments of Structural Conditionality
International Monetary Fund
NULL
Keywords:
PP; country; fund; Bolivia; Mauritania; country case; PRGF country; core area; country circumstances; labor market; country ownership; macroeconomic problem; Privatization; Public enterprises; Energy sector; Labor market reforms; Civil service reform