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Chairman of the Cabinet of Ministers of Kyrgyzstan Akylbek Zhaparov met with head of the Central Bank of Japan Haruhiko Kuroda as part of his working visit to Japan.

Zhaparov noted that he was sincerely glad to meet again with Haruhiko Kuroda, who previously headed the Asian Development Bank and proved to be an effective manager.

“Today, one of the topical areas of bilateral cooperation is the banking sector. There are commercial banks in the Kyrgyz Republic that operate according to internationally recognized standards. In this regard, the Kyrgyz side is counting on support in assisting the country’s commercial banks in establishing correspondent banking relations with Japanese commercial banks,” he said.

Akylbek Zhaparov stressed that recently the Cabinet of Ministers managed to adopt a number of anti-crisis measures, which made it possible to achieve a 7% growth in gross domestic product.

“We are pursuing a fairly coordinated policy with the National Bank of the Kyrgyz Republic in the field of monetary and fiscal policy. Now, at the expense of our income, we completely close our expenses. According to the program of state investments, we direct all credit and grant funds only for development,” the head of the cabinet of ministers stated.

The chairman of the Central Bank of Japan noted that one of the main problems of the world economy is inflation.

“I am sure that this problem has not bypassed the Kyrgyz Republic. It is gratifying that under such conditions you managed to achieve growth in gross domestic product. The coronavirus pandemic has not ended and continues to have its negative impact on the global economy. In a number of countries, inflation has reached double digits. This is a problem that is difficult for any country to overcome alone. Now much depends on the efforts and actions taken by the National Bank of the Kyrgyz Republic. We are ready to exchange information and cooperate on all issues that are within our competence,” said Haruhiko Kuroda.

During the conversation, the Akylbek Zhaparov expressed gratitude to the Central Bank of Japan and the Japan International Cooperation Agency (JICA) for the opportunity to study the experience of the Japan Credit Guarantee Corporation, which was applied in our country when creating the Guarantee Fund Open Joint Stock Company.



Source: Kyrgyz National News Agency