IMF will promptly consider providing budgetary support to Kyrgyzstan, says rep

Bishkek, March 26, 2020. /Kabar/. In the coming days, the International Monetary Fund (IMF) will promptly consider providing budgetary support to Kyrgyzstan, IMF Permanent Representative in the Kyrgyz Republic Tigran Poghosyan said at a meeting with President Sooronbay Jeenbekov. Jeenbekov and Poghosyan exchanged views on the risks and consequences of coronavirus infection on the Kyrgyz economy and issues of attracting financial assistance to prevent them, the President’s press service said Thursday. During the meeting, the Kyrgyz leader noted that the current situation related to spread of coronavirus infection and volatility in global financial markets has a negative impact on macroeconomic stability in the country and requires urgent measures to mitigate negative economic impacts. In this regard, Jeenbekov suggested that IMF consider the possibility of allocating budgetary support to Kyrgyzstan to mitigate the negative consequences of the spread of COVID-19 infection and take measures to prevent its further spread in Kyrgyzstan. Poghosyan told the Fund is considering various options for providing emergency support to the countries, which suffered economic losses from the spread of coronavirus infection, within the available funding instruments. "Kyrgyzstan was one of the first countries to apply for emergency financing,” said Tigran Poghosyan, assuring that in the coming days the IMF will promptly consider the issue of budget support to Kyrgyzstan. The International Monetary Fund (IMF) is an international organization headquartered in Washington, D.C., consisting of 189 countries working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world while periodically depending on the World Bank for its resources. To date, a total of 44 cases of coronavirus infection were registered in the republic.