Asian Development Bank and Kyrgyz Republic: Fact Sheet

Abstract

Updated yearly, this ADB Fact Sheet provides social and economic indicators on the Kyrgyz Republic as well as concise information on ADB's operations in the country and contact information. The revolution in the Kyrgyz Republic in March 2005 brought about disruption and political uncertainty which combined with a fall in gold production, adversely affected the Central Asian nation’s economic performance over the year. The poor performance of industry and agriculture however was partly offset by growth in small-scale enterprises and services, which benefited from deregulation and legalization. The political uncertainties slowed down sector reforms and crucial measures to improve governance, clarity in property rights, and the regulatory framework necessary for better business climate. A nearly $2 billion external debt—equivalent to 81% of the gross domestic product (GDP)—remains a pressing concern for the Kyrgyz Republic. In March 2005, the Paris Club of creditors agreed to a $198 million debt relief through 2008. Debt relief agreements have been concluded with Japan, the Russian Federation, and Turkey. In March 2006, the Government expressed interest in participating in the Heavily Indebted Poor Countries Initiative for further debt relief.