Moscow, Nov.29, 2019. /Kabar/. The Eurasian Fund for Stabilization and Development (EFSD) is ready to support the budget of Kyrgyzstan if necessary, Executive Director of EFSD Project Block Andrey Shirokov told reporters at the XIV International Conference “Eurasian Economic Integration”, held in Moscow, Russia on Nov.29, 2019.
He said currently there are no budget support projects in Kyrgyzstan in the EFSD.
"At the same time, the EFSD Project Block maintains a dialogue with the Government and the National Bank of Kyrgyzstan on macroeconomic and structural policy issues, as well as discussions on the directions of reforms with key ministries and agencies. This is due to the vulnerability of the Kyrgyz economy to external and internal shocks, despite continued economic growth, and the tasks of structural and institutional transformation necessary to achieve sustainable growth and poverty reduction," he said.
The EFSD executive director said that during the last visit, held on Nov.19-22, 2019, an agreement was reached between the EFSD and the Government of Kyrgyzstan to continue an active dialogue on priority areas of structural and institutional reforms, which can be supported by a loan from the funds of the EFSD in case of need for budget support.
“Discussions focused on measures to improve transparency of fiscal and structural policy, reduce budget risks, improve the efficiency of monetary policy in the framework of inflation targeting, support the digitalization of the economy," Andrey Shirokov added.
Such issues as challenges and opportunities for integration in the Eurasian space, integration of regions and countries as a factor of stress-resistant development, prospects for the formation of a common institutional space for the integration development of member states of the Eurasian Development Bank were considered at the International Conference.
Eurasian Fund for Stabilization and Development (the former EURASEC Anti-crisis Fund) is an international financial institution established by Armenia, Belarus, Kazakhstan, Kyrgyz Republic, Russia and Tajikistan with the goals to assist its member states in overcoming the consequences of global financial crisis, to ensure their long-run economic stability and to foster economic integration of EFSD member-countries.
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