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Structural reforms vital for Kyrgyzstan's growth potential enhancing, says IMF mission

May 23, 2014



Structural reforms remain vital for enhancing Kyrgyzstan's growth potential, IMF mission said in a statement issued following a visit to Bishkek on May 6-16 to hold discussions for the sixth and final review under a three-year Extended Credit Facility arrangement.

The mission urged the Kyrgyz authorities to approve swiftly the Banking Code, Payments System Law, and Anti-Money Laundering/Combating Financing of Terrorism (AML/CFT) legislation currently in the parliament.

Adopting this legislation would be a major step forward in developing the financial sector and enable it to support strong private sector-led growth. It will modernize the resolution regime, streamline the supervisory framework, and bring the AML/CFT framework in line with best international practice.

Speeding up the public financial sector management reforms will help to increase further the transparency of the public finances.


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Source: AKIpress News Agency (Kyrgyz Republic)


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