Bishkek, Apr. 28, 2020 / Kabar /. The countries of Central Asia, including Kyrgyzstan, experienced a shock from the economic point of view due to the coronavirus pandemic, Director of the Department of the Middle East and Central Asia of the International Monetary Fund Jihad Azour told during an online press conference.
He divided the countries of the region into several categories, in particular those that have a powerful oil and gas sector and those that are dependent on sectors such as remittances and tourism. He listed Armenia, Georgia, and Kyrgyzstan to the latter category.
Azour said that countries with a powerful oil and gas sector received problems with the financial market. “It is important for these countries to comprehend what the next wave will be and what measures need to be taken,” he said.
Another group, that is, Armenia, Georgia and Kyrgyzstan, experienced a shock, which affected the attraction of foreign currency to the countries, the IMF representative noted.
“And these are the sectors that are associated with a large attraction of jobs and the provision of social support. Providing an operational loan will help provide social protection when using the right tools,” he added.
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