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Middle East and Central Asia > Kyrgyz Republic

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Cover IMF Working Papers
A Quality of Growth Index for Developing Countries: A Proposal
Mr. Montfort Mlachila
,
Rene Tapsoba
, and
Mr. Sampawende J Tapsoba
This paper proposes a new quality of growth index (QGI) for developing countries. The index encompasses both the intrinsic nature and social dimensions of growth, and is computed for over 90 countries for the period 1990-2011. The approach is premised on the fact that not all growth is created equal in terms of social outcomes, and that it does matter how one reaches from one level of income to another for various theoretical and empirical reasons. The paper finds that the quality of growth has been improving in the vast majority of developing countries over the past two decades, although the rate of convergence is relatively slow. At the same time, there are considerable cross-country variations across income levels and regions. Finally, emprirical investigations point to the fact that main factors of the quality of growth are political stability, public pro-poor spending, macroeconomic stability, financial development, institutional quality and external factors such as FDI.
Keywords:
WP; correlation matrix; composite index; final period; standard deviation; Quality of growth; social indicators; QGI score; benchmark QGI; QGI process; QGI dynamics; growth fundamentals; QGI value; QGI performance; Inclusive growth; Personal income; Income inequality; Sub-Saharan Africa; Africa
Cover IMF Staff Country Reports
Kyrgyz Republic: 2011 Article IV Consultation and Request for a Three-Year Arrangement Under the Extended Credit Facility: Staff Report; Supplement; Staff Statement; Public Information Notice and Press Release on the Executive Board Discussion; and Statement by the Executive Director for the Kyrgyz Republic.
International Monetary Fund
The Kyrgyz Republic is recovering from a deep political crisis. Agriculture, tourism, mining, and textile production will be important drivers of growth. Strong export-oriented growth and fiscal consolidation will help to reduce the current account deficit in the medium term. Executive Directors endorsed the authorities’ structural reform agenda, emphasizing that steadfast implementation is critical to the success of the economic program; developments in the banking sector have exposed shortcomings in the bank resolution framework and the central bank’s de facto lack of supervisory independence.
Keywords:
ISCR; CR; Three-Year arrangement; Kyrgyz authorities; request; NBKR management; Three-Year; NBKR chairperson; inflation objective; Inflation; Public and publicly-guaranteed external debt; Global
Cover Regional Economic Outlook, May 2009, Middle East and Central Asia
Regional Economic Outlook, May 2009, Middle East and Central Asia
International Monetary Fund. Middle East and Central Asia Dept.

Abstract

The global crisis is now affecting the countries in the Middle East and Central Asia region, and economic and financial vulnerabilities are rising. In the Middle East and North Africa, good economic fundamentals, appropriate policy responses, and sizable currency reserves are helping mitigate the impact of the shock. In the Caucasus and Central Asia, lower commodity prices and adverse economic developments in Russia have hit hard. The report notes that countries should prepare for the contingency of a prolonged global slowdown by supporting domestic demand for a longer period and strengthening financial systems further. In some countries with rising unemployment, it will be important to target government resources and policies on protecting the poor; in others, increased donor support will be necessary to maintain needed economic development.

Keywords:
REO; CCA country; Algeria; Bahrain; Kuwait; Qatar; country datum; oil exporter; broad money; Iran's projection; Oil; Remittances; Foreign direct investment; Exchange rates; Fiscal stimulus; Global; Middle East; Central Asia and the Caucasus; Maghreb; Europe; CCA headline inflation; CCA region; GCC subgroup; MEOI group; Oil prices; Current account balance; North Africa
Cover IMF Working Papers
Analysis of Recent Growth in Low-Income CIS Countries
Ms. Elena Loukoianova
and
Ms. Anna Unigovskaya
This paper analyzes factors that determine recent economic growth in the low-income countries of the Commonwealth of Independent States.2 The main findings are as follows: (1) productivity gains in export-oriented sectors and expansion of exports may have become the main sources of growth in five of the seven CIS-7 countries, while in the early years of transition the output recovery was mainly driven by consumption; (2) economic growth has concentrated in agriculture and the raw material sectors, and, thus, is vulnerable to changes in external conditions; and (3) structural reforms matter for growth, which is consistent with previous research on growth in transition countries.
Keywords:
WP; real GDP; TFP growth; exchange rate; CIS Goskomstat