COVID-19: IMF allocates $121 million for Kyrgyzstan

WASHINGTON: The International Monetary Fund (IMF) has allocated around $121 million to Kyrgyzstan to help battle against the spread of the new coronavirus.

Executive board of IMF has endorsed the first request for emergency financial support to assist its member countries address the challenges due to COVID-19.

The IMF said in a statement that the endorsement of the request from the Kyrgyz Republic will make accessible US$120.9 million to the authorities to meet the urgent balance of disbursement needs stemming from the outbreak of the coronavirus pandemic.

It said that the emergency financial support will help catalyze donor for fight against COVID-19-related health expenses. Kyrgyz government is correctly implementing a transitory loosening of macroeconomic and financial policies, the statement said.

Kyrgyzstan has imposed a state of emergency in the county to curb the spread of the coronavirus outbreak, the country’s presidential service had announced the lockdown on 24 March till April 15.

“President Sooronbai Jeenbekov has signed pronouncement to enact a state of emergency in the cities of Bishkek, Osh, and Jalal-Abad, as well as the Nookat and Kara-Suu districts of the Osh region and the Suzak district of the Jalal-Abad region.
Kyrgyzstan reported 30 more confirmed cases on March 26, bringing the total number to 48.