IBC and IMF Misssion discuss dynamics of Kyrgyzstan’s financial market

On March 12, IBC Executive Director Askar Sydykov and Chair of the IBC Mineral Resources Committee Aicholpon Jorupbekova met with the International Monetary Fund Mission.

The goal of the Mission, which is in Bishkek from March 6 to March 19, is to conduct consultations in accordance with Article IV of the IMF Agreement (Obligations Regarding Exchange Arrangements).

The following issues are addressed:

• Recovery of commercial claims: unsecured and secured loans, mortgage loans, corporate loans, and mass claims;

• Procedures and market dynamics, fee structure, dynamics of mass court proceedings, recovery rates, and reform plans.

During the visit, meetings were held with representatives of the Government of the Kyrgyz Republic, the leadership of the National Bank of the Kyrgyz Republic and several commercial banks, and other organizations.