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Middle East and Central Asia > Kyrgyz Republic

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Cover Policy Papers
Poverty Reduction and Growth Trust-Review of Interest Rate Structure
International Monetary Fund. Finance Dept.
,
International Monetary Fund. Strategy, Policy, &amp
, and
Review Department
This paper reviews the Poverty Reduction and Growth Trust (PRGT) interest rate structure for the period July 2019–June 2021. Since the interest rate mechanism was first established in 2009, no interest has been charged on PRGT credit. In line with the package of reforms proposed in the parallel Review of LIC Facilities, this paper proposes to align interest rates on the SCF with those on the ECF. Based on the average SDR rate over the most recently observed 12-month period, the proposed revised interest rate mechanism would result in zero interest rates on both ECF and SCF credit for the period July 2019–June 2021.
Keywords:
PP; interest rate; PRGT interest rate mechanism; rate; PRGT interest rates; PRGT; PRGT financing; interest rate mechanism; SCF credit; Credit; Loans; SDR interest rate; Credit ratings; Poverty reduction strategy; Global