On behalf of our Kyrgyz authorities, we would like to thank management and staff for their continued support to the Kyrgyz Republic through the three-year arrangement under the Extended Credit Facility (ECF). The authorities are highly appreciative of the Fund’s steady engagement with them and broadly agree with staff’s assessment and policy recommendations. In a turbulent regional economic context, the Fund program provides a solid framework for the design, prioritization, and implementation of sound policies to support the economy in the short term, as well as to lift its potential and enhance its resilience in the long term. Ultimately, preserving macroeconomic stability and putting economic growth on a higher trajectory are essential to sustain social stability and to achieve permanent gains in the fight against poverty. Against this background, the authorities remain strongly committed to the set of measures agreed under the Fund program. Program implementation has been strong. All end-June 2015 quantitative performance criteria and all indicative targets were met. For the most part, structural benchmarks for this review were met. On this basis, the authorities request the completion of the first review and the related disbursement in the amount of SDR 9.514 million.