Kyrgyzstan and IMF leadership discuss construction of Kambarata HPP-1

Bishkek, April 17, 2024. / Kabar/. Chairman of the Cabinet of Ministers - Head of the Presidential Administration of the Kyrgyz Republic Akylbek Zhaparov, as part of a working visit to Washington (USA), met with Deputy Managing Director of the International Monetary Fund (IMF) Bo Li.

The sides discussed current issues of cooperation in the field of climate change and green economy.

Akylbek Zhaparov noted that thanks to the coordinated work of the Cabinet of Ministers to improve tax administration and introduce digital technologies, the economic growth of the Kyrgyz Republic over the past three years has averaged 7%.

The head of the Cabinet also spoke in detail about the current macroeconomic situation in the republic, paying special attention to the implementation of energy projects, including the construction of Kambarata HPP-1.

He emphasized that, taking into account the scale of this strategic project, as well as the potential dividends for the country’s energy security and economic growth, Kyrgyzstan is ready to consider various options for cooperation within the framework of the implementation of this grandiose project.

In turn, Bo Li shared his opinion on the current challenges of the global economy, noting the acceleration of inflation, the threat to food security and natural disasters. He also shared his plans to visit the Kyrgyz Republic in 2024.

Following the meeting, the parties agreed to maintain active interaction on all priority issues, including those discussed during this meeting.

The chairman of the Cabinet of Ministers also held a meeting with Director of the International Monetary Fund for the Middle East and Central Asia region, Jihad Azur.

“Our government is focused on implementing reforms to improve the efficiency of public finances, develop the private sector and fight corruption. We are confident that continued constructive dialogue and technical cooperation with the IMF will help achieve our strategic goals. I would like to note that the economy (GDP) grew by an unprecedented 8.8% in the first quarter of 2024,” said the head of the Cabinet Akylbek Zhaparov.

During the meeting, the parties discussed issues of increasing interaction, as well as the joint implementation of investment projects, such as the construction of Kambarata HPP-1, issues of climate change and the development of a green economy.