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Saturday, October 16th, 2021

IMF writes off Kyrgyzstan’s USD 2.6 mln debt from CCRT

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by October 12, 2021 Market

The International Monetary Fund (IMF) has written off USD 12.6 million of debt of Kyrgyzstan through the Catastrophe Containment and Relief Trust (CCRT), the press service of the Ministry of Economy and Finance of the Kyrgyz Republic reported.

The Executive Board of the IMF approved on October 6, 2021 a fourth tranche of debt service relief from the Catastrophe Containment and Relief Trust for 24 member countries with eligible debt falling due in the period through January 10, 2022, including Kyrgyzstan, the report said.

Such a decision was achieved thanks to the joint work of the Ministry of Economy and Finance of Kyrgyzstan and the IMF Resident Mission in the Kyrgyz Republic, starting from September 2021.

Thus, the Kyrgyz Republic’s debt of SDR 8.8 million or USD 12.6 million to the IMF for the period from October 8, 2021 to January 10, 2022 will be reduced.

This debt relief will help free up financial resources in Kyrgyzstan to allocate funds to the health sector and economic support to mitigate the impact of the COVID-19 pandemic.

Source: Kyrgyz National News Agency

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