Banking reform is one of the most important tasks of Kyrgyzstan's government, Prime Minister Nikolai Tanayev said during a meeting in Bishkek on Wednesday with International Monetary Fund Managing Director Horst Koehler.
"It is necessary to restore the population's confidence in banks, which has been shaken after a series of major bankruptcies. It is also our goal that banks should take a more active part in financing the real sector of the economy," Tanayev said.
"Unfortunately, so far the level of loans that are issued is low," he said.
He told Koehler about administrative, legislative and fiscal reforms. As part of the fiscal reform, the country has set up Income Committee, which replaced the Financial Police, Customs Inspectorate and Tax Inspectorate.
Interfax, November 12, 2003