Kyrgyz international reserves exceed pre-crisis level [PHOTO]

By Abdul Kerimkhanov

Kyrgyzstan’s international reserves exceeded the pre-crisis level of 2014 and reached $2.2 billion, which $110.0 million more than in 2018.

Prime Minister of Kyrgyzstan Muhammedkaly Abylgaziev said this at a meeting with Lilia Burunciuc, the Regional Director for the Central Asia Region at the World Bank on October 8.

Abylgaziev noted the important role of the WB in the social and economic development of Kyrgyzstan and the reduction of poverty in the country. He also expressed gratitude to the WB for supporting the ongoing reforms in the country.

"The positive results of the current policy are evident. Thus, the country's external debt decreased over three years from 64 percent of GDP in 2015 to 43.5 percent of GDP. International reserves exceeded the pre-crisis level of 2014 and reached $2.2 billion. This figure is $110.0 million more than in 2018," Abylgaziev stated.

He stressed that the WB is Kyrgyzstan’s reliable partner and expressed gratitude for the fruitful cooperation in resolving important socio-economic problems.

He mentioned that Kyrgyzstan was included in the TOP-20 of the reforming countries of the Doing Business 2020 rating published by the WB.

Abylgaziev informed the guest about priority given by Kyrgyz state to the development of the regions, great attention and efforts are directed to the issues of providing the population with drinking and irrigation water, support for entrepreneurs developing investment and infrastructure projects in the regions, digitalization of public services and agricultural support.

"At the same time, the Government will make every effort to implement investment projects financed by the WB as soon as possible," Abylgaziev added.

Abylgaziev emphasized the Government’s readiness to finalize project designs as soon as possible for subsequent approval by the WB Board of Directors and expressed hope for further fruitful cooperation between Kyrgyzstan and the WB.

In turn, Burunciuc noted that she was pleased with the ongoing positive changes in the country, as well as the positive results of cooperation between the WB and Kyrgyzstan.

She spoke about the upcoming joint projects related to the development of regions, the educational sector and tax administration.

During the meeting, the parties condemned the issues of attracting additional investments in the amount of $110 million in excess of the approved limits for Kyrgyzstan.

Bolormaa Amgaabazar, Country Manager for Kyrgyzstan at the WB, also took part in the meeting.

Founded in 1944, the World Bank has 189 member countries, staff from more than 170 countries, and over 130 offices. Today the Bank's work touches nearly every sector that is important to fighting poverty, supporting economic growth, and ensuring sustainable gains in the quality of people’s lives in developing countries.

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Abdul Kerimkhanov is AzerNews’ staff journalist, follow him on Twitter: @AbdulKerim94 

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