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Middle East and Central Asia > Kyrgyz Republic

You are looking at 1 - 9 of 9 items for :

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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 Policy Discussion Papers
FDI and the Investment Climate in the CIS Countries
Mr. Clinton R. Shiells
In view of disappointing levels of inward foreign direct investment (FDI), this paper examines capital flows into the Commonwealth of Independent States (CIS) countries and investigates the main impediments to a more favorable investment climate. Direct investment inflows have generally been related to natural resource extraction or energy transportation infrastructure projects, large privatization transactions, and debt/equity swaps to pay for energy supplies. Low FDI inflows despite strengthening macroeconomic performance has reflected a weak investment climate particularly owing to incomplete structural reforms. IMF staff working on the countries concerned cited burdensome tax systems, widespread corruption, extensive state intervention coupled with weak legal and regulatory frameworks, and incomplete structural reforms as the main impediments.
Keywords:
PDP; CIS country; FDI flow; investment climate; FDI inflow; firm Gazprom; IMF country team; Moldovan firm Moldova-Gaz; FDI; Former Soviet Union; Transition economies; Regional issues; enterprise performance; Foreign direct investment; Privatization; Capital flows; Capital inflows; Oil sector; Central and Eastern Europe; Eastern Europe; Baltics; 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
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 Growth Experience in Transition Countries, 90-98
Growth Experience in Transition Countries, 90-98
International Monetary Fund

Abstract

This study, another in the series focusing on special issues in transition, reviews the experience of output decline and recovery in the 25 countries of eastern and central Europe and the Baltics, Russia, and other countries of the former Soviet Union. Although these countries began the process of economic transformation with similar circumstances of output decline, the extent of decline, its duration, and the sustainability of recovery in growth varied considerably. The authors explore the factors behind this variation and find that the most important policies promoting early and sustained recovery were ones that supported financial stabilization and structural reforms in key areas such as private sector development, the tax system, economic liberalization, and secure property rights.

Keywords:
OP; transition country; country; economy; transition economy; rating agency; market signal; productivity calculation; Structural reforms; Privatization; Foreign direct investment; Productivity; Europe; Baltics; Central and Eastern Europe; Asia and Pacific
Cover IMF Working Papers
Improving Governance and Fighting Corruption in the Baltic and CIS Countries: The Role of the IMF
Emine Gürgen
and
Mr. Thomas A. Wolf
This paper examines the indirect role the IMF plays in combating corruption in the Baltic and CIS countries by promoting structural reforms that help improve economic governance and thus reduce opportunities for rent-seeking behavior. The analysis draws on examples of actual experience with corruption and outlines some of the structural measures under IMF-supported arrangements, which, if successfully implemented, can be expected to help gradually alleviate corruption. It also summarizes IMF-wide initiatives under way to strengthen public sector transparency and accountability, and highlights the key structural areas likely to receive emphasis in the IMF’s future policy advice to countries in the region.
Keywords:
WP; administration; country; authority; economy; CIS country; Governance; corruption; transition; Baltic; CIS; IMF; country self-assessments; enterprise operation; macroeconomic adjustment; government transparency; state energy company; Commercial banks; Civil service reform; Privatization; Baltics
Cover IMF Staff Country Reports
Kyrgyz Republic: Recent Economic Developments
International Monetary Fund
This paper reviews economic developments in the Kyrgyz Republic during 1995–97. Significant progress has been achieved in establishing macroeconomic stability since 1994. Inflation has fallen sharply over 1992–97, and projections indicate that the 17 percent targeted for the year will be achieved. After a massive output decline during 1991–95, real GDP started to increase in late 1995 and showed solid growth in 1996 and during the first half of 1997. The budget deficit was halved during 1995–96 and is targeted to decline further in 1997, financed mostly through external assistance.
Keywords:
ISCR; CR; exchange rate; U.S. dollar; Kyrgyz authorities; tax code; private sector; vault cash; foreign exchange; privatized enterprise; Treasury bills and bonds; Imports; Privatization; Central Asia; Global
Cover Deepening Structural Reform in Africa
Deepening Structural Reform in Africa
Lessons from East Asia
Ms. Laura Wallace

Abstract

As Africa looks for ways to deepen and accelerate the economic reform process, what lessons can East Asia offer? this book edited by Laura Wallace, records the proceedings of a seminar that involved a dynamic exchange of experiences by policy makers and senior government officials from Africa and East Asia and senior staff of international organizations. The seminar addressed themes such as the sequencing and pacing of structural reforms, the need for a broad political and social acceptance of change and reform, and the need for transparency and accoutability in economic management.

Keywords:
BOOK; government; country; textile parastatal; market; privatization program; privatization process; country specificity; structural adjustment program; Privatization; Public enterprises; Commercial banks; Tax administration core functions; Africa; East Asia; Sub-Saharan Africa; Central Asia; Southeast Asia