IMF Allocates About $121Mln For Kyrgyzstan To Support Its Fight Against Spread Of COVID-19

IMF Allocates About $121Mln for Kyrgyzstan to Support Its Fight Against Spread of COVID-19

WASHINGTON (UrduPoint News / Sputnik - 27th March, 2020) The International Monetary Fund (IMF) has allocated around $121 million to Kyrgyzstan to support its fight against the spread of the coronavirus.

"The IMF Executive board approves the first request for emergency financial assistance to help its member countries address the challenges posed by COVID-19.

The approval of the request from the Kyrgyz Republic will make available US$120.9 million to the authorities to meet the urgent balance of payment needs stemming from the outbreak of the COVID-19 pandemic: helps catalyze donor support and free resources for essential COVID-19-related health expenditure," the IMF said in a statement.

"To absorb the shock of the pandemic, the [Kyrgyz] government is appropriately implementing a temporary loosening of macroeconomic and financial policies," the statement added.

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