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Kyrgyz Republic: Second Review Under the Three-Year Arrangement Under the Extended Credit Facility and Request for Modification of Performance Criteria: Staff Report; and Press Release
Author:
International Monetary Fund
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2012: Issue 111
Language:
English
Publication Date:
15 May 2012
DOI:
https://doi.org/10.5089/9781475503579.002
ISBN:
9781475503579
ISSN:
1934-7685
Pages:
79
Keywords:
ISCR; CR; Three-Year arrangement; Three-Year; request; ECF arrangement; SDR; IMF's executive board; banking sector indicator; Kyrgyz authorities; Capital spending; Global
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This paper presents key findings of the Second Review for the Kyrgyz Republic under the Extended Credit Facility. Buoyant revenue collection and significant shortfalls in external financing led to a lower-than-programmed fiscal deficit for 2011. The overall health of the banking sector continued to improve but vulnerabilities remain. Strong adherence to the policies agreed under the IMF-supported program has played an important role in achieving economic recovery and macroeconomic stabilization. The fiscal stance for 2012 is appropriate and reflects pressing social and infrastructure development needs.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund