Press Releases

• Pages: 77

Page 77

Kyrgyz Republic: ESAF Augmentation

Kyrgyz Republic: Economic Indicators

(percent change)

1995	1996	1997	1998(1)	1999(2)
Real GDP	-5.0	7.0	10.0	2.0	3.0

(percent of GDP)

Overall government balance	-17.0	-10.0	-9.0	-9.0	-8.0
Current account balance	-16.0	-23.0	-8.0	-17.0	-12.0

Data: Kyrgyz authorities and IMF staff estimates

The IMF has approved a request by the government of the Kyrgyz Republic to augment by SDR 8.9 million (about $12 million) the IMF's financial support under the current three-year Enhanced Structural Adjustment Facility (ESAF), approved by the Executive Board on June 26, 1998, in the amount of SDR 64.5 million (about $88 million). (See Press Release No. 98/27, IMF Survey, July 6, 1998, page 217.) The augmentation, which is intended to help counter the impact of the Russian financial crisis on the Kyrgyz economy, will be available as part of the second loan under the first annual ESAF arrangement. The Executive Board made the decision in conjunction with the completion of the midterm review of the first year of the ESAF.

The Kyrgyz Republic joined the IMF...