/KASE, February 28, 12/ - Eurasian Development Bank, whose bonds are
officially listed at Kazakhstan Stock Exchange (KASE), has provided KASE with
the following press-rerelease of February 27, 2012:
quote
Experts from the Eurasian Development Bank (EDB), which is the manager of
the EurAsEC Anti-Crisis Fund (ACF), visited Bishkek between 20 and 23
February 2012 to begin to prepare the Manager's Conclusion on Kyrgyzstan's
application for a $106.7m financial credit from the ACF. The experts met with the
Government and the National Bank of the Kyrgyz Republic, as well as with
representatives of international organisations, to discuss the current
macroeconomic and fiscal situation in the country, the main figures of its 2012
state budget, and the mid-term development plans.
"The economic situation is being stabilised. We see a steady recovery of
economic activity and lower inflation and imbalance of foreign trade. Mid-term
development plans and strategies have been developed. However, we believe
that it is very important that a more clear mechanism should be developed to
fulfil mid-term plans and ensure their coordination and integrity. The projected
expenditures for 2012 and the medium term, which are based on the
Government's rather optimistic plan to increase budget revenues, are also of
concern. In particular, when making these plans, the Government needs to take
into account that the global economic situation can worsen and this should be
backed by certain reserves to mitigate possible shocks. In the coming weeks, the
Manager will continue discussion with the Government in order to finally
determine the size of the credit and the list of reforms it will support," Sergey
Shatalov, Deputy Chairman of the EDB Executive Board, said.
unquote
The full version of the press-release is available on KASE website, at
http://www.kase.kz/files/emitters/EABR/eabr_reliz_270212.pdf
[2012-02-28]