Kyrgyz Republic: Request for an 18-Month Arrangement Under the Exogenous Shocks Facility-Staff Report; Staff Supplement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Kyrgyz Republic.

December 24, 2008

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Format: Chicago

Kyrgyz Republic: Request for an 18-Month Arrangement Under the Exogenous Shocks Facility-Staff Report; Staff Supplement; Press Release on the Executive Board Discussion; and Statement by the Executive Director for Kyrgyz Republic., (USA: International Monetary Fund, 2008) accessed November 21, 2024

Summary

The Kyrgyz Republic’s request for an 18-month Arrangement under the Exogenous Shocks Facility is discussed. International commodity prices continued to rise through much of 2008, resulting in a surge in inflation to more than 30 percent by mid-year and a widening of the current account deficit. A major shortfall in domestic hydropower capacity owing to low water levels is causing power shortages and necessitates the import of larger volumes of fuel and electricity, increasing the current account deficit further.

Subject: Banking, Commercial banks, External debt, Financial institutions, Monetary base, Money, Public debt, Revenue administration

Keywords: Adjustment policy, Authority, Banking sector difficulty, Central Asia, Commercial banks, CR, Global, ISCR, Kyrgyz authorities, Kyrgyz banking system, Kyrgyz economy, Kyrgyz parliament, Kyrgyzstan, Monetary base

Publication Details

Pages:

97
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2008/381
Stock No:

1KGZEA2008003
ISBN:

9781451821598
ISSN:

1934-7685

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