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KYRGYSTAN: $2 BILLION IN DEBT AND SEARCHING FOR ANSWERS.

Publication: Interpress Service
Publication Date: 26-DEC-06 		Format: Online
Delivery: Immediate Online Access

Article Excerpt
by Meri Asekova

BISHKEK, Dec. 26, 2006 (IPS/GIN) -- Non-governmental groups are at the forefront of a campaign against declaring Kyrgyzstan one of the Heavily Indebted Poor Countries.

A listing as Heavily Indebted Poor Country (HIPC) would mean that substantial debts of the country can be written off, but it would have to accept a reforms package agreed between the government and the World Bank and the International Monetary Fund (IMF).

Several government leaders have been proposing the HIPC option. The external debt of this little Central Asian country with a population of 5 million has reached $2 billion; its annual budget is less than $500 million.

It would be unusual for a...

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