Kyrgyzstan receives an amount equivalent to over 800 million from the IMF in order to get through the coronakrisen.
the Board of The International Monetary fund (IMF) has approved the first hasteudbetaling to a country, since coronavirusudbruddet began.
Kyrgyzstan to receive 120,9 million dollar, which should help the central asian country. In dollars, the amount to 817 million.
the Money, which the IMF takes from two different loan programs to help Kyrgyzstan out of an urgent payment, which is due to virusudbruddet.
the Pandemic has weakened the outlook for the Republic of Kyrgyzstan and created a hole in the balance of payments of an estimated $ 400 million, according to a statement from the IMF.
Earlier this week informed the IMF’s top executive, Kristalina Georgieva, to over 80 countries have applied for the rapid financial assistance to help them deal with the effects of virusudbruddet.
Conflict-affected countries such as Yemen, Sudan and Iraq are particularly vulnerable, it sounded also from the IMF’s director for Middle east and central asia, Jihad Azour, on Tuesday.
the IMF has already predicted that the coronavirus is going to have a significant negative impact on the global economy.
the international monetary Fund expects that the corona virus will cause a global recession in 2020 to the same extent as, or worse than the financial crisis in 2009.
Recession refers to a period of at least two consecutive quarters of economic decline. It will typically involve rising unemployment and lower earnings for businesses.
It is expected, however, that the development will return in 2021, said the IMF on Monday.
According to the IMF, developed economies are generally in a better position to handle the crisis. It will hit many emerging economies harder.
The International Monetary fund is the main institution for global monetary cooperation.
Among its primary tasks is to ensure financial stability, facilitate international trade, increase employment and economic growth and combat poverty.