The International Monetary Fund will disburse 9.56 million SDR ($14.3 million) to Kyrgyzstan as part of a Poverty Reduction and Growth Facility (PRGF) program, the IMF office in Kyrgyzstan said in a press release.
The IMF board's approval of the tranche was based on the results of a review on how Kyrgyzstan was implementing the program. The board accepted Kyrgyzstan's request to not follow the program's criteria for the budget deficit, which differed somewhat from the set figure.
The three year PRGF program was initially approved in December 2001 and totaled 73.4 million SDR ($101.7 million). Kyrgyzstan has already received three tranches totaling about $43.2 million. Loans within the PRGF program are offered for 10 years at 0.5% with a 5.5 year grace period on principal payments.
Interfax, January 16, 2004