|Economy||Measure Code||Measure||Currency Code||Amount (Local)||Amount (USD)||Source||Post Date||Details|
|Kyrgyz Republic||01||01 - Liquidity Support||KGS||39,772,555,468||533,103,811|
|Kyrgyz Republic||01A||01A - Short-term lending||KGS||1,000,000,000||13,403,811||Kabar. http://en.kabar.kg/news/kyrgyz-national-bank-to-allocate-kgs-5.2-billion-to-support-countrys-economy/ (accessed 17 May 2020).||
10 May 2020, As part of the Kyrgyz Government’s anti-crisis plan, the National Bank of the Kyrgyz Republic (NBKR, the central bank) will allocate KGS1 billion for floating capital.
|Kyrgyz Republic||01B||01B - Support policies for short-term lending||KGS||International Monetary Fund (IMF). https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accesed 14 April 2020).||
No amount/estimate: April 2020, The National Bank of the Kyrgyz Republic will postpone enactment of several financial regulations until further notice. In addition, it took the following decisions: (i) liquidity ratio is lowered to a minimum of 30% (from the current 45%); (ii) liquidity ratio requirements (7-day and overnight/instant) will be removed; and (iii) minimum threshold level for mandatory reserve requirements is reduced from 80% to 70%.
|Kyrgyz Republic||01C||01C - Forex operations||KGS||38,772,555,468||519,700,000||IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accesed 14 April 2020, 9 July 2020, 16 September 2020, 2 October 2020, 12 October 2020, 6 November 2020, 8 January 2021, 15 January 2021).||
As of 7 January 2021, the National Bank of the Kyrgyz Republic already sold USD519.7 million of foreign exchange reserves.
|Kyrgyz Republic||02||02 - Credit creation||KGS||3,495,000,000||46,846,319|
|Kyrgyz Republic||02A||02A - Financial sector lending/funding||KGS||2,495,000,000||33,442,508||Ministry of Finance. http://www.minfin.gov.kg/ru/novosti/novosti/v-tselyakh-realizatsii-programmy-vydany-sredstva-- (accessed 16 September 2020).||
7 September 2020, To support business entities in the context of the spread of COVID-19, the Government of the Kyrgyz Republic adopted a resolution dated 9 June 2020 No. 315 on the approval of the program "Financing of Business Entities". In order to implement this program, the Ministry of Finance issued KGS2,495 million to commercial banks. As of 4 September 2020, within the framework of this program, loans were made to 968 entrepreneurs in the amount of KGS1,348,605 thousand.
|Kyrgyz Republic||02B||02B - Support policies for long-term lending||KGS|
|Kyrgyz Republic||02B1||02B1 - Interest rate adjustments||KGS||National Bank of the Kyrgyz Republic (NBKR). https://www.nbkr.kg/all_news.jsp?lang=ENG&news_type=news-main (accessed 3 February 2021).||
No amount/estimate: 26 January 2021, The NBKR has kept its policy rate unchaged at 5% since 25 August 2020 [update].
|Kyrgyz Republic||02B2||02B2 - Other policies to support long-term lending||KGS||IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accesed 14 April 2020).||
No amount/estimate: April 2020, The NBKR will postpone enactment of several financial regulations until further notice. In addition, it made the following decisions: (i) banks and Nonbank Financial Institutions (NBFIs) should create a loan loss reserve equal to 100% for the amount of overdue accrued interest payments on loans that have been given the status of non-accrual of interest income when overdue arrears are 270 days or more (from the now 90 days), (ii) in the event of arrears arising from COVID-19, banks or NBFIs have the right not to worsen the classification category due to financial condition of the borrower, and (iii) risk-weights of FX corporate and retail loans will be reduced from 150% to 100%.
|Kyrgyz Republic||02C||02C - Loan guarantees||KGS||1,000,000,000||13,403,811||Kabar. http://en.kabar.kg/news/kyrgyz-national-bank-to-allocate-kgs-5.2-billion-to-support-countrys-economy/ (accessed 17 May 2020); Open Joint Stock Company Guarantee Fund. http://gf.kg/en/about/istoriya-sozdaniya/ (accessed 14 October 2020).||
10 May 2020, As part of the Kyrgyz Government’s anti-crisis plan, the National Bank of the Kyrgyz Republic will allocate KGS1 billion to increase the authorized capital of the Guarantee Fund.
|Kyrgyz Republic||03||03 - Direct long-term lending||KGS||3,994,000,000||53,534,821|
|Kyrgyz Republic||03A||03A - Long-term lending||KGS||3,994,000,000||53,534,821||Kabar. http://en.kabar.kg/news/kyrgyz-national-bank-to-allocate-kgs-5.2-billion-to-support-countrys-economy/ (accessed 17 May 2020); Ministry of Finance. http://www.minfin.gov.kg/ru/novosti/novosti/gorodu-bishkek-budet-vydeleno-besprotsentnoy-byudz (accessed 28 June 2020).||
(i) 10 May 2020, As part of the Kyrgyz Government’s anti-crisis plan, the National Bank of the Kyrgyz Republic will allocate: (a) KGS750 million to support small- and medium-sized businesses via Keremet Bank, (b) KGS1.5 billion for financing agriculture, and (c) KGS1 billion for microcredit companies; (ii) 22 June 2020, The Ministry of Finance, in cooperation with the Mayor's Office of Bishkek in accordance with the Budget Code of the Kyrgyz Republic, decided to allocate an interest-free budget loan to the city of Bishkek in the amount of KGS744 million to pay salaries and leave of the teachers working in educational institutions of the city of Bishkek.
|Kyrgyz Republic||03B||03B - Forbearance||KGS|
|Kyrgyz Republic||04||04 - Equity support||KGS|
|Kyrgyz Republic||05||05 - Health and income support||KGS||6,121,600,000||82,052,769|
|Kyrgyz Republic||05A||05A - Health support||KGS|
|Kyrgyz Republic||05B||05B - Income support||KGS|
|Kyrgyz Republic||05B1||05B1 - Tax and contribution deferrals and policy changes||KGS|
|Kyrgyz Republic||05B2||05B2 - Tax and contribution rates reduction||KGS|
|Kyrgyz Republic||05B3||05B3 - Subsidies to individuals and households||KGS||Government of the Kyrgyz Republic. https://www.gov.kg/ky/post/s/okmt-koronaviruska-karshy-krsht-paydalanylchu-bir-katar-importtoluuchu-tovarlardy-kns-boshottu (accessed 17 September 2020).||
No amount/estimate: 15 September 2020, The Government of the Kyrgyz Republic has exempted from VAT a number of imported goods used in the fight against coronavirus. The decision is valid from 1 August to 31 December 2020.
|Kyrgyz Republic||05B4||05B4 - Subsidies to businesses||KGS|
|Kyrgyz Republic||05B5||05B5 - Indirect income support||KGS|
|Kyrgyz Republic||05B6||05B6 - No breakdown (income support)||KGS|
|Kyrgyz Republic||05C||05C - No breakdown (health and income support)||KGS||6,121,600,000||82,052,769||Ministry of Finance. http://www.minfin.gov.kg/ru/novosti/novosti/covid-19-menen-krshg-respublikalyk-byudzhetten-38-(accessed 12 July 2020); Ministry of Finance. http://www.minfin.gov.kg/ru/novosti/novosti/covid-19-virusunun-taralyshyn-aldyn-aluuga-respubl (accessed 12 July 2020); Kabar. http://en.kabar.kg/news/kyrgyz-government-allocates-kgs-640-mln-for-possible-second-wave-of-coronavirus/ (accessed 16 September 2020); Ministry of Finance. http://www.minfin.gov.kg/ru/novosti/novosti/informatsiya--o-sredstvakh-vydelyaemykh-dlya-borby (accessed 8 January 2021).||
3 July 2020, KGS3.8 billion is allocated from the republican budget for the expenses related to COVID-19. KGS1.8 billion has been spent since February 2020 for the: (a) payment to health workers, (b) purchase of disinfectants, test kits, and personal protective equipment, (c) purchase of food wheat grain, (d) provision of financial assistance for the travel of students outside the republic, etc. As of 15 September 2020, KGS5.4 billion was allocated from the republican budget, of which KGS5.2 billion was used. Utilization of KGS5.2 billion: (a) KGS2.1 billion for the purchase of medical equipment, PCR, reagents, medical products, PPE, (b) KGS785 million for the compensation of medical workers,(c) KGS452 million for the compensation of employees of law enforcement agencies, (d) KGS454 million for medical makeshift hospitals and meals, (e) KGS200 million for the provision of food for low-income families, (e) KGS221 million for the vaccines against flu and pneumococcus, (f) KGS1.1 billion for the provision of grain and medicines. 12 November 2020, The allocation to prevent and combat coronavirus infection increased to KGS6.1216 billion.
|Kyrgyz Republic||06||06 - Budget reallocation||KGS|
|Kyrgyz Republic||07||07 - Central bank financing government||KGS|
|Kyrgyz Republic||07A||07A - Direct lending and reserve drawdown||KGS|
|Kyrgyz Republic||07B||07B - Secondary purchase: government securities||KGS|
|Kyrgyz Republic||08||08 - International Assistance Received||KGS||52,163,001,718||699,183,009|
|Kyrgyz Republic||08A||08A - Swaps||KGS|
|Kyrgyz Republic||08B||08B - International loans/grants||KGS||52,163,001,718||699,183,009|
|Kyrgyz Republic||08B1||08B1 - Asian Development Bank||KGS||5,390,258,096||72,250,000||ADB||
(i) 30 April 2020, USD1.02 million is the estimated support under TA 9950-REG: Regional Support to Address the Outbreak of COVID-19 and Potential Outbreaks of Other Communicable Diseases. As of 30 January 2021, the estimated support increased to USD1.20 million [update]; (ii) 4 May 2020, USD50 million under the COVID-19 Active Response and Expenditure Support Program; (iii) 3 June 2020, USD0.07 million under the Developing a Disaster Risk Transfer Facility in the Central Asia Regional Economic Cooperation Region (additional financing); (iv) 5 June 2020, USD0.10 million under the Preparing the Promoting Economic Diversification Program (additional financing); (v) 16 June 2020, USD20 million under COVID-19 Pandemic Emergency Project; (v) 13 July 2020, USD0.38 million under the Addressing Health Threats in the Central, West and East Asia Region Project; (vi) 24 July 2020, USD0.21 million under the Due Diligence and Capacity Development of Trade Finance Program Banks (Subproject 3). As of 25 October 2020, the project amounted to USD0.21 million; (vii) 18 November 2020, USD0.05 million under Supporting Startup Ecosystem in the Central Asia Regional Economic Cooperation Region to Mitigate Impact of COVID-19 and Support Economic Revival Project; (viii) 26 November 2020, USD0.04 million under Addressing Health Threats in the Central, West and East Asia Region (Additional Financing) Project; (ix) 9 December 2020, USD0.20 million under Preparing the Promoting Economic Diversification Program.
|Kyrgyz Republic||08B2||08B2 - Other||KGS||46,772,743,622||626,933,009||IMF. https://www.imf.org/en/News/Articles/2020/03/26/pr20115-kyrgyz-republic-imf-executive-board-approves-disbursement-to-address-covid-19-pandemic (accessed 19 April 2020); World Bank. https://www.worldbank.org/en/news/press-release/2020/04/02/kyrgyz-republic-gets-world-bank-financing-to-respond-to-covid-19-pandemic (accessed 16 April 2020); World Bank. https://www.worldbank.org/en/news/press-release/2020/06/12/kyrgyz-republic-receives-world-bank-financing-to-scale-up-disaster-resilience-and-seismic-performance-of-school-buildings (accessed 18 June 2020); European Union External Action. https://eeas.europa.eu/headquarters/headquarters-homepage/78089/eu-mobilises-more-eur-36-%D0%BCillion-support-kyrgyzstan-response-covid-19_en (accessed 1 May 2020). IMF. https://www.imf.org/en/News/Articles/2020/05/08/pr20213-kyrgyz-republic-imf-execboard-approves-us-121-1m-emergency-asst-rfi-rcf-address-covid19 (accessed 14 May 2020); United Nations Development Programme (UNDP). http://mptf.undp.org/factsheet/fund/COV00 (accessed 22 May 2020); Islamic Development Bank (IsDB). https://www.isdb.org/covid-19-overview (accessed 22 May 2020); US Agency for International Development (USAID). https://www.usaid.gov/news-information/coronavirus/fact-sheets/update-united-states-continues-lead-global-response-covid-19 (26 May 2020). Ministry of Finance. http://www.minfin.gov.kg/ru/novosti/novosti/na-podderzhku-byudzheta-kyrgyzskoy-respubliki-ot-d6726 (accessed 28 June 2020). Ministry of Finance. http://www.minfin.gov.kg/ru/novosti/novosti/pravitelstvo-yaponii-predostavila-kyrgyzstanu-v-vi (accessed 26 July 2020). World Bank. https://www.worldbank.org/en/news/press-release/2020/07/30/kyrgyz-republic-to-mitigate-pandemic-caused-economic-shocks-for-businesses-vulnerable-people-and-communities-with-world-bank-support (accessed 31 July 2020). Asian Infrastructure Investment Bank (AIIB). https://www.aiib.org/en/projects/details/2020/proposed/_download/kyrgyz/PSI-P000423-Kyrgyz-Emergency-Support-July-9-2020.pdf (accessed 7 August 2020). AIIB. https://www.aiib.org/en/projects/details/2020/proposed/Kyrgyz-Republic-Kyrgyz-Emergency-Support-for-Private-and-Financial-Sector-Project.html (accessed 7 August 2020); AIIB. https://www.aiib.org/en/projects/details/2020/approved/Kyrgyz-Republic-Kyrgyz-Emergency-Support-for-Private-and-Financial-Sector-Project.html (accessed 21 August 2020); Ministry of Finance. http://www.minfin.gov.kg/ru/novosti/novosti/show6168/ (accessed 23 August 2020); Kabar. http://en.kabar.kg/news/who-donates-over-1.5-mln-medical-masks-to-kyrgyzstan/ (accessed 22 October 2020).||
(i) 26 March 2020, The Executive Board of the International Monetary Fund (IMF) approved a purchase of the Kyrgyz Republic under the Rapid Financing Instrument (RFI) equivalent to SDR59.2 million (USD80.6 million at today’s USD/SDR exchange rate, 33% of quota) and a disbursement under the Rapid Credit Facility (RCF) equivalent to SDR29.6 million (USD40.3 million at today’s USD/SDR exchange rate, 17% of quota) to meet the urgent balance of payment needs stemming from the outbreak of the COVID-19 pandemic; (ii) 2 April 2020, The World Bank’s Board of Directors approved USD12.15 million from the International Development Association (IDA) for the Kyrgyz Republic Emergency COVID-19 Project. In addition, USD9 million dollars of financing from an on-going World Bank project will be reallocated to support the country’s efforts to prepare for and respond effectively to the health and social risks associated with the global COVID-19 pandemic; (iii) 28 April 2020, The European Union provided assistance in the form of grants amounting to more than EUR36 million; (iv) 8 May 2020, The Executive Board of the International Monetary Fund approved a purchase of the Kyrgyz Republic under the Rapid Financing Instrument equivalent to SDR59.2 million (USD80.7 million, 33% of quota) and a disbursement under the Rapid Credit Facility equivalent to SDR29.6 million (USD40.4 million, 17% of quota) to meet the urgent balance of payment needs stemming from the outbreak of the COVID-19 pandemic; (v) May 2020, USD1 million under the United Nations (UN) COVID-19 Response and Recovery Multi-Partner Trust Fund (COVID-19 MPTF); (vi) The Islamic Development Bank (IsDB) provided USD15 million under Emergency Support for Building COVID-19 pandemic preparedness and response capacity in the Kyrgyz Republic; (vii) 20 May 2020, The United States through the US Agency for International Development will provide health assistance amounting to approximately USD0.9 million; (viii) As of 18 June 2020, the German Development Bank KfW agreed to redirect USD30 million to ensure food security in the country; (ix) 14 July 2020, The Government of the Kyrgyz Republic and the Government of Japan signed Exchange Notes under the "Program of Socio-Economic Development" within the framework of gratuitous assistance in the amount of USD4.6 million; (x) 30 July 2020, The World Bank’s Board of Executive Directors approved financing for three projects in the Kyrgyz Republic aimed at helping mitigate the unprecedented health, economic, and social challenges caused by the COVID-19 pandemic. The financing to Emergency Support for Micro, Small and Medium Enterprises (USD50 million); Social Protection Emergency Response and Delivery Systems (USD50 million); and CASA-1000 Community Support Project (COVID-19) Additional Financing (USD21 million) will be provided on highly concessional terms through the International Development Association (IDA). Half of the funding in each project will be allocated in the form of a grant, which requires no repayment, while the other half is a credit with a 0.75% administrative fee, with repayments spread out over 38 years, and a six-year grace period; (xi) As of 12 August 2020, the Eurasian Fund for Stabilization and Development (EFSD) approved a loan to the Kyrgyz Republic in the amount of USD100 million; (xii) 12 August 2020, Another USD50 million under the Emergency Support for Micro, Small and Medium Enterprises (World Bank as the lead co-financier) is to be co-financed by the Asian Infrastructure Investment Bank (AIIB); (xiii) In September 2020, the World Health Organization (WHO) donated 1,000 PCR test systems to the Ministry of Health. The total cost of humanitarian aid is USD1 million; (xiv) 19 October 2020, The WHO handed over medical masks to the Ministry of Health. The total cost of humanitarian aid is about USD460 thousand.
|Kyrgyz Republic||09||09 - International Assistance Provided||KGS|
|Kyrgyz Republic||09A||09A - Swaps||KGS|
|Kyrgyz Republic||09B||09B - International loans/grants||KGS|
|Kyrgyz Republic||10||10 - No breakdown||KGS|
|Kyrgyz Republic||11||11 - Other Economic Measures||KGS||IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accesed 13 April 2020). Ministry of Finance. http://www.minfin.gov.kg/ru/novosti/novosti/informatsiya-ob-obsluzhivanii-gosudarstvennogo-dol6829 (accessed 6 September 2020).||
(i) February 2020, The NBKR raised the policy interest rate by 75 basis points to 5% amid global uncertainty and the increase in inflation; (ii) Banks and NBFIs should create a loan loss reserve equal to 100% for the amount of overdue accrued interest payments on loans that have been given the status of non-accrual of interest income when overdue arrears are 270 days or more (from the now 90 days); (iii) As of 5 September 2020, the republican budget received KGS6,300.20 million from the issuance of government securities: (a) KGS991.34 million ST-bills, and (b) KGS5,308.86 million ST-bonds.
|Kyrgyz Republic||12||12 - Non-Economic Measures||KGS|
|Kyrgyz Republic||12A||12A - Measures affecting travel and transport (local and international)||KGS||IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accesed 26 May 2020, 24 June 2020); CAREC Institute (accessed 26 May 2020, 11 June 2020); Kabar. http://en.kabar.kg/news/turkey-uae-resume-flights-with-kyrgyzstan/ (accessed 8 August 2020); Kabar. http://en.kabar.kg/news/kyrgyzstan-to-resume-air-service-with-central-asian-countries/ (accessed 11 September 2020). Kabar. http://en.kabar.kg/news/kyrgyzstan-to-resume-regular-flights-with-russia/ (accessed 25 September 2020).||
(i) 25 May 2020, Public transport has opened; (ii) April 2020, The authorities have taken drastic measures to prevent the outbreak including (a) the closure of borders with People's Republic of China where 36% of imports of goods originate, and (b) border restrictions with Kazakhstan and Uzbekistan; (iii) From 5 June 2020, domestic flights and public transport between the regions of Kyrgyz Republic restarted; (iv) From 8 June 2020, restriction on visits to religious institutions is lifted; (v) 15 June 2020, International flights resumed; (vi) 7 August 2020, The Kyrgyz Republic resumed its international flights with Turkey and United Arab Emirates; (vii) 10 September 2020, The Kyrgyz Republic resumed its international flights with Kuwait; (viii) The Kyrgyz Republic resumed its international flights with Kazakhstan on 20 September 2020 and with Russian Federation on 21 September 2020.
|Kyrgyz Republic||12B||12B - Measures affecting business and workplace||KGS||IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accesed 26 May 2020); CAREC Institute (accessed 26 May 2020).||
(i) 21 May 2020, Large shopping centers have opened; (ii) 25 May 2020, Cafes and restaurants fitting no more than 50 people have been allowed to resume operation in Bishkek.
|Kyrgyz Republic||12C||12C - Others||KGS||World Trade Organization (WTO). https://www.wto.org/english/tratop_e/covid19_e/trade_related_goods_measure_e.htm (accessed 19 April 2020); IMF. https://www.imf.org/en/Topics/imf-and-covid19/Policy-Responses-to-COVID-19 (accesed 13 April 2020, 17 May 2020); Kabar. http://en.kabar.kg/news/62-schools-in-kyrgyzstan-study-in-traditional-mode/ (accessed 9 September 2020)||
(i) Effective 22 March 2020 for 6 months (a) temporary export ban on wipes, other antibacterial products, and disinfectants, and (b) temporary export ban on certain food products like wheat, meslin, etc.; (ii) April 2020, The authorities have taken drastic measures to prevent the outbreak including (a) the quarantine of people coming from abroad, (b) a lockdown of all non-essential activities, and (c) a curfew; (iii) 10 May 2020, The state of emergency ended and the curfew was lifted while the quarantine regime will work until the stabilization of the epidemiological situation; (iv) As of 8 September 2020, the Ministry of Education said that in the first quarter of the 2020-2021 academic year in Kyrgyz Republic, only 1st grades are taught in the traditional format. The rest of them are taught remotely. At the same time, 62 schools of the Republic are allowed to teach children of all classes in the traditional mode. These are small-scale or elementary schools located in areas where no cases of coronavirus infection have been detected.