Jeenbekov and IMF Permanent Representative to Kyrgyzstan discuss impact of COVID-19 on country’s economy

Bishkek, March 26, 2020 / Kabar /. President of Kyrgyzstan Sooronbay Jeenbekov met with Permanent Representative of the International Monetary Fund (IMF) in the Kyrgyz Republic Tigran Poghosyan, the press service of the president reported. An exchange of views took place on the risks and consequences of the impact of coronavirus infection on the economy of Kyrgyzstan and issues of attracting financial assistance to prevent them. The head of state stressed that Kyrgyzstan attaches great importance to cooperation with the IMF, which provides ongoing support in promoting structural reforms and in general in the development of the country's economy. He noted that the current situation related to the spread of coronavirus infection and volatility in world financial markets negatively affects macroeconomic stability in the country and requires urgent measures to smooth out the negative economic consequences. In this regard, Jeenbekov suggested that the IMF consider allocating budget support to Kyrgyzstan to mitigate the negative consequences of the spread of coronavirus infection and take preventive measures to prevent its further spread in Kyrgyzstan. Poghosyan noted that the Fund is considering various options for providing emergency support to countries that have suffered economic damage from the spread of coronavirus infection, within the existing funding instruments. He noted that Kyrgyzstan was one of the first countries to send an application for emergency funding and assured that in the coming days the IMF would quickly consider the issue of providing budget support to Kyrgyzstan.