| Kyrgyzstan became a member of the World Bank on September 18, 1992. This report is based on the work of an economic mission that visited Kyrgyzstan in April 1992 and subsequent visits by World Bank sectoral staff The report was discussed with the authorities in October 1992 and distributed to the first Consultative Group (CG) meeting for Kyrgyzstan, which took place on December 15, 1992. The mission wishes to thank the authorities in Kyrgyzstan for their excellent support and cooperation. |
| The report was prepared by a team led by Sanjay Dhar and comprised Craig Andrews, Howard Barnum, Brian O'Connor, Jean-Charles Crochet, John Edelman, Ann Ishee, Donald Keesing, Henk Koppen, Dhananjaya Kumar, Guy Le Moigne, Dan Mozes, Barbara Ossowicka, Herve Plusquellec, Joseph Saba, Marcel Scoffier, Kutlu Somel, Michael Stevens, Stephen Taylor, Milan Vodopivec, Jeurgen Voegele and Peter Whitford. Thomas Daves, Klaus Lorch, Michael Mills, Michael Rathnam and Salvatore Schiavo-Campo also contributed to the report. The work was carried out under the general supervision of Kadir Tanju Yurukoglu. |
| Since the report was distributed to the CG, many reform measures, addressing key areas discussed in this report, have been undertaken by the Government. This preface provides a brief update on key developments in recent months, while the rest of the report remains as it was presented to the CG meeting at the end of last year. |
| Important structural reforms that have been approved since this report was distributed to the CG include: (i) the adoption by Parliament of a Concept Note for privatization of small and medium scale enterprises in December 1992. By January 1993, about 2300 enterprises, accounting for about 12 percent of total fixed assets, had been privatized. The majority of these, around 2000, were small-scale enterprises in the trade and services sectors; (ii) the elimination of most legal and institutional barriers to private sector participation in trade and distribution, including state orders; (iii) the elimination of most previously granted tax privileges and exemptions by December 1992 (further fiscal measures were approved by Parliament and are included in the IMF standby program); (iv) the adoption of new central bank and commercial banking laws, establishing a two-tier banking system and empowering the National Bank of Kyrgyzstan with increased supervisory authority; and, (v) the approval of a new constitution in May 1993. |
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