Statistical data and issues are discussed in this paper. Mauritania reached the completion point under the enhanced Initiative for Heavily Indebted Poor Countries. In July 2004, a new economic team took actions to tighten fiscal and monetary policies. The authorities intend to adopt sound principles for oil revenue management and tracking (various frameworks, such as the one proposed in the Extractive Industry Transparency Initiative, are under consideration). Executive Directors welcomed the authorities’ willingness to prepare for the transition to a more flexible exchange rate.
The paper describes recent macroeconomic and financial developments and highlights a number of important medium- and longer-term policy issues. Empirical estimates of potential output growth for the Kyrgyz economy based on a number of different methodologies are presented. Competitiveness and trade policy, social policy issues, namely poverty alleviation and pension reform, are also taken up for discussion. Developments in the banking system since 1998 are described. Fiscal issues are discussed and also statistical data on economic indices are presented.