Kyrgyzstan spending too much on national currency
By Trend
The national currency of Kyrgyzstan is printed by three foreign companies, chairman of the National Bank of Kyrgyzstan Tolkunbek Abdygulov said at the session of the Parliament. He said that they are: "DeLaRue Currency", "Oberthur Fiduciaire" and "Crane Currency", Kabar reported.
MP Zhunus uulu Altynbek specified that Kyrgyzstan should not spend millions to print soms. He gave an example that Kazakhstan itself prints tenge. In addition, the parliamentarian said that the government could use the reserves of the National Bank, since the funds are not used there.
The chairman of Kyrgyz National Bank said that with reserve money no one can do anything. "We hope that 2018 will be a good year. But if something happens, then this reserve will be used to make up for the losses. By international standards, we cannot touch these funds. In addition, if there are no reserves, then we will not be able to pass an external audit,” Abdygulov explained.
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