Slower-than-expected vaccination of the population or emergence of new strains of COVID-19 virus could delay economic recovery until 2022 in the Kyrgyz Republic, statement by the International Monetary Fund following consultations with the Kyrgyz authorities says.
It is noted that the global economic situation remains uncertain and serves as the basis for development of plans in case of unforeseen circumstances.
Providing with vaccines as quickly as possible is critical to saving lives and means of sustenance.
The IMF also notes that a decline in gold prices or a reduction in remittances could weaken the balance of payments. If these risks materialize, it will be necessary to keep the stimulating macroeconomic policies in place for a longer period and to increase spending on healthcare and social services.
“Political stability, predictable economic policy and decisive reforms to improve the business climate will help build confidence among the business community,” the statement says. (24.kg/Business World Magazine)