IMF staff urge caution on Kyrgyz de-dollarisation plans
Central bank plans to support borrowers with foreign currency exposures
Staff at the International Monetary Fund recommended a cautious approach to de-dollarisation in the Kyrgyz Republic on February 4, as the central bank and government act to support borrowers with debt in US dollars.
The National Bank of the Kyrgyz Republic this month launched a government-backed plan to convert US dollar-denominated debt into soms. Many people in the country have borrowed in dollars, notably to finance housing purchases, and are now suffering from the som's weakness.
Under the
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Printing this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. Copying this content is for the sole use of the Authorised User (named subscriber), as outlined in our terms and conditions - https://www.infopro-insight.com/terms-conditions/insight-subscriptions/
If you would like to purchase additional rights please email info@centralbanking.com
Most read
- Taking stock of Bernanke: the original sin of forecasting
- Fed policy-makers disagree over risks
- Central bank of the year: Central Bank of Brazil