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IMF supports Kyrgyzstan’s entering the Customs Union

Speaker of the Jogorku Kenesh Asylbek Jeenbekov today received a delegation led by head of the mission of the Department for Middle East and Central Asia of the International Monetary Fund (IMF) Edward Gemayel. The press service of the Parliament reports.

During the meeting the sides discussed a wide range of issues related to cooperation between Kyrgyzstan and the IMF.

The Speaker noted that Kyrgyzstan attaches great importance to cooperation with the IMF and sees it as an important partner. He noted the successful completion of a three-year agreement on the Extended Credit Facility (ECF) and expressed satisfaction with the results of the final sixth review, summed up under the program in June 2014.

Mr. Gemayel, in turn, has expressed interest in continuing and enhancing cooperation with Kyrgyzstan. In this regard, the IMF holds talks with the government of Kyrgyzstan to launch a new program of support. "The main priorities, as in previous cooperation programs are a continuation of strengthening fiscal consolidation, reinforcement of the banking and financial sectors, as well as structural reforms in the economy," he said. The sides noted the importance of conclusion of a new three-year program in the near future.

They also exchanged views on Kyrgyzstan’s accession to the Customs Union and the EEA. In particular, Gemayel said that the IMF prepared a number of recommendations to reduce the risk when entering into these integration associations. "The IMF supports Kyrgyzstan’s entry into the Customs Union. We hope that these recommendations will serve to the benefit of Kyrgyzstan," he added.

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