02238cas a2200241 a 4500 AALejournalIMF016634 230101c9999 xx r poo 0 0eng d 5.00 USD 9781475523881 1934-7685 BD-DhAAL BD-DhAAL International Monetary Fund. Middle East and Central Asia Dept. Kyrgyz Republic : 2015 Staff Report for the 2015 Article IV Consultation and First Review under the Three-year Arrangement under the Extended Credit Facility, and Request for Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for the Kyrgyz Republic. Washington, D.C. : International Monetary Fund, 2016. 1 online resource (129 pages) IMF Staff Country Reports <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students The economy has shown some resilience in the face of adverse regional shocks but potential growth is constrained by persistent structural challenges, particularly lagging productivity and dependence on gold, remittances, and foreign aid. Satisfactory performance under the program during the first half of the year was followed by fiscal slippages in the run-up to the October elections and a delay in adopting the Banking Code, a key measure to strengthen central bank independence and the bank resolution framework. The combined impact of a large public investment program and currency depreciation has raised the public debt ratio markedly. Significant further depreciation could pose risks for the otherwise well capitalized, but highly dollarized, financial sector. The business environment remains weak, overshadowed by lingering disagreements between the authorities and the largest foreign investor. Mode of access: Internet IMF Staff Country Reports; Country Report ; No. 2016/055 Full text available on IMF http://elibrary.imf.org/view/journals/002/2016/055/002.2016.issue-055-en.xml IMF e-Library