Bishkek, Apr. 11, 2020. /Kabar/. The Ministry of Finance of the Kyrgyz Republic is taking all necessary measures to improve the situation, Finance Minister Baktygul Jeenbayeva said at a news briefing at the Government House.
According to her, the Finance Ministry calls on all budget institutions to reconsider their expenditures in order to save budget funds.
Also, the ministry appealed to development partners, international financial institutions, donor countries in order to attract grants and loans at the lowest possible interest rates and for the longest possible period.
For example, the maturity of the resources of the International Monetary Fund is 10 years, the Eurasian Stabilization and Development Fund 20 years, the Asian Development Bank 32 years and the World Bank 38 years.
Interest rates are also acceptable to the country.
Thus, the resources of the International Monetary Fund are issued at 0.7 per cent, the World Bank at 0.75 per cent and the Asian Development Bank at up to 1 per cent.
At the same time, there are various grace periods under the conditions of the loans granted.
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