Kyrgyzstan passes anti-crisis plan

19:56, August 18, 2010      

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Kyrgyzstan passed an anti-crisis plan Wednesday to deal with serious social problems within the country, according to the government press office.

The plan, authorized by interim president Roza Otunbayeva, aims to address critical issues created by political turbulence in April and June this year in order to enhance medium term (2011 - 2012) economic growth.

The turbulence led to profound economic disruption and social disorder, and forced many investors to leave the country. Investment fell, the private sector's confidence was weakened and liquidity in the banking system was reduced.

Small and medium-sized business, especially the service industry, has suffered badly as a result of the social instability.

Some neighboring countries closed their borders and stopped importing agricultural goods from Kyrgyzstan and hurt light and processing industries.

The interim government estimates it needs 1.2 billion U.S. dollars to solve the most urgent social and economic problems. This year alone, it will need 550 to 600 million dollars.

The World Bank, Eurasian Foundation and other international financial organizations would contribute to the plan, the office said.

While tackling its economic and social illness, the interim government also faces the task of political reconstruction.

The Central Election Commission told the press Wednesday that 57 political parties would run in the Oct. 10 parliamentary elections.



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