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Middle East and Central Asia > Kyrgyz Republic

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Cover Regional Economic Outlook, October 2020, Middle East and Central Asia
Regional Economic Outlook, October 2020, Middle East and Central Asia
International Monetary Fund. Middle East and Central Asia Dept.

Abstract

Countries in the Middle East, North Africa, Afghanistan, and Pakistan (MENAP) region and those in the Caucasus and Central Asia (CCA) responded to the COVID-19 pandemic with swift and stringent measures to mitigate its spread and impact but continue to face an uncertain and difficult environment. Oil exporters were particularly hard hit by a “double-whammy” of the economic impact of lockdowns and the resulting sharp decline in oil demand and prices. Containing the health crisis, cushioning income losses, and expanding social spending remain immediate priorities. However, governments must also begin to lay the groundwork for recovery and rebuilding stronger, including by addressing legacies from the crisis and strengthening inclusion.

Keywords:
public health; reopening; rebuilding; oil revenue; OPEC+; REO; oil exporter; MCD country; oil importer; IMF staff calculation; MCD firm; MCD region
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: 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 IMF Staff Country Reports
Kyrgyz Republic: Joint Staff Assessment of the Poverty Reduction Strategy Paper Annual Progress Report
International Monetary Fund
The attached Joint Staff Assessment (JSA) of the Poverty Reduction Strategy Paper Progress Report on the Kyrgyz Republic highlights the poverty diagnosis and macroeconomic framework. Poverty developments have been particularly encouraging in the rural areas, where the majority of Kyrgyzstan’s poor live, with a relatively larger reduction in the poverty level, and reductions in extreme poverty and expenditure inequality. The IMF staff welcomes the work initiated to improve costing and prioritization and poverty analysis.
Keywords:
ISCR; CR; government; Kyrgyz authorities; policy; Kyrgyzstan; NPRS priority; core NPRS indicator; policy action plan; government of the Kyrgyz Republic; Poverty reduction strategy; Poverty reduction
Cover IMF Working Papers
The Impact of External Indebtednesson Poverty in Low-Income Countries
Mr. Kadima D. Kalonji
,
Mr. Boileau Loko
,
Raj Nallari
, and
Mr. Montfort Mlachila
This paper explores the relationship between external debt and poverty. A number of observers have argued that high external indebtedness is a major cause of poverty. Using the first-differenced general method of moments (GMM) estimator, the paper models the impact of external debt on poverty, measured by life expectancy, infant mortality, and gross primary enrollment rates, while duly taking into account the impact of external debt on income. The paper thus endeavors to bring together the literature that links external debt with income growth and poverty. The main conclusion is that once the effect of income on poverty has been taken into account, external indebtedness indicators have a limited but important impact on poverty.
Keywords:
WP; GDP; poverty indicator; crowding out; Poverty; Growth; External Debt; poverty-growth nexus; crowding-out effect; debt indicator; Laffer debt curve; real purchasing power; Debt burden; Debt service; Sub-Saharan Africa
Cover IMF Staff Country Reports
Republic of Moldova: Recent Economic Developments
International Monetary Fund
This paper analyzes the recent economic developments in Moldova by reviewing the real, fiscal, and external sectors developments; money banking; and structural policies. The study provides a statistical analysis on the composition of fiscal adjustments in the country, and describes the recent trends in social spending and social indicators in Moldova and in other transition economies in the 1990s, the methodology for estimating efficiency in public spending on education and health care, and assesses the current account determination in the country.
Keywords:
ISCR; CR; Moldova; public spending; debt; transition economy; generation company; GDP data; current account balance; land privatization program; distribution companies pay; Current account balance; Fiscal consolidation; Total expenditures; Current account; Eastern Europe; Baltics
Cover IMF Working Papers
Health and Education Expenditures in Russia, the Baltic States, and the Other Countries of the Former Soviet Union
Mr. Mark A Horton
Russia, the Baltic states and the other countries of the former Soviet Union inherited health and education systems that were in need of substantial structural and financial reform. In spite of a sharp decline of real resources, this reform has barely begun. While health and education have not suffered disproportionate cuts, employment has been maintained, with real wages sharply compressed, purchases of materials reduced and energy-related spending taking a greater share of resources in many countries. Structural and financial reform would include reducing staffing and physical capacity, while increasing expenditures for materials and wages for the more highly qualified.
Keywords:
WP; expenditure; real wage; wage; education expenditure; country; education wage bill; wages in health; health wage; teacher salary; education sector; Health care spending; Education spending; Total expenditures; Baltics