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EurAsEC loan to Kyrgyz delayed due to upcoming change of govt.

(Xinhua)

16:09, December 01, 2011

BISHKEK. Nov. 30 (Xinhua) -- Consideration of a 106 million U.S. dollar loan to Kyrgyzstan from the EurAsEC Anticrisis Fund has been postponed due to the Central Asian country's upcoming change of government in early 2012, acting Prime Minister Omurbek Babanov said Wednesday.

Russia's acting finance minister, Anton Siluanov said after a meeting of the Fund's board on November 28 that the board would discuss the loan to Kyrgyzstan again at its next meeting in early 2012. He said this was necessary so that the board could be confident that the money would be used "within the framework of agreements and the framework of the EurAsEC fund's charter activities."

Commenting on the work of Kyrgyzstan's coalition government, Babanov said that from January to October 2011 it managed to meet all obligations concerning the budget. This was achieved by " optimizing expenditures, receiving additional revenue from state enterprises, the recovery of budget loans and additional receipts from customs and the tax authorities," he said.

He said spending items such as tackling natural disasters, road repair and construction, and preparations for the winter were financed in full.

It is expected that after Kyrgyzstan's current prime minister, Almazbek Atamabev becomes president on December 1, the Cabinet will resign. The members of the current cabinet will remain in their posts until a new government is formed.

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