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Kyrgyz Republic: Support to Public Debt Management

Sovereign (Public) Project | 54161-001 Status: Active

Government requested ADB TA to (i) carry out a brief assessment of the Government of Kyrgyz debt management performance; (ii) help update its MTDS; (iii) help develop a DSA; (iv) help improve strengthening capacity of the PDD staff to carry out the range of analytical products needed for it to fulfil its debt management function as mandated by the Debt Law and (v) to reach some of the Government's key policy objectives with regards to debt management (most notably the development of a domestic debt market).

Project Details

Project Officer
de Almeida Vieira de Sa, Rogerio Central and West Asia Department Request for information
Country
  • Kyrgyz Republic
Sector
  • Public sector management
 
Project Name Support to Public Debt Management
Project Number 54161-001
Country Kyrgyz Republic
Project Status Active
Project Type / Modality of Assistance Technical Assistance
Source of Funding / Amount
TA 6573-KGZ: Support to Public Debt Management
Technical Assistance Special Fund US$ 225,000.00
Strategic Agendas Inclusive economic growth
Regional integration
Drivers of Change Governance and capacity development
Knowledge solutions
Partnerships
Private sector development
Sector / Subsector

Public sector management / Public expenditure and fiscal management

Gender Equity and Mainstreaming No gender elements
Description Government requested ADB TA to (i) carry out a brief assessment of the Government of Kyrgyz debt management performance; (ii) help update its MTDS; (iii) help develop a DSA; (iv) help improve strengthening capacity of the PDD staff to carry out the range of analytical products needed for it to fulfil its debt management function as mandated by the Debt Law and (v) to reach some of the Government's key policy objectives with regards to debt management (most notably the development of a domestic debt market).
Project Rationale and Linkage to Country/Regional Strategy Public sector debt, as recorded, monitored and reported by the Public Debt Department (PDD) of the Ministry of Finance (MOF), covers state government debt, state guarantees and the debt of the central bank towards the International Monetary Fund (IMF). Although the government would benefit from adopting a broader concept of coverage of public sector debt, current coverage of public sector debt in public debt statistics is sufficiently comprehensive. The largest share of all public sector debt is central government debt. State-owned enterprise (SOE) domestic debt is small in size and limited to short term borrowing from commercial banks. There are also a few active public-private partnership (PPP) projects in Kyrgyz Republic suggesting limited exposure to contingent liabilities.
Impact Ensuring and maintaining sustainability of public external debt
Project Outcome
Description of Outcome Public debt management function within MOF to better inform decisions on how the government intends to borrow and manage its debt to achieve a portfolio that reflect its cost and risk preferences, while meeting financing needs strengthened.
Progress Toward Outcome
Implementation Progress
Description of Project Outputs

Institutional capacity for public debt management strengthened.

Medium-Term Debt Strategy 2021-2024 developed.

Capacity to record, monitor and report on all financial liabilities strengthened.

Status of Implementation Progress (Outputs, Activities, and Issues)
Geographical Location Nation-wide
Summary of Environmental and Social Aspects
Environmental Aspects
Involuntary Resettlement
Indigenous Peoples
Stakeholder Communication, Participation, and Consultation
During Project Design
During Project Implementation
Responsible ADB Officer de Almeida Vieira de Sa, Rogerio
Responsible ADB Department Central and West Asia Department
Responsible ADB Division Public Management, Financial Sector and Trade Division, CWRD
Executing Agencies
Ministry of Finance
Public Debt Department Room 500
58 Erkindik Boulevard
Bishkek 720040, Kyrgzy Republic
Timetable
Concept Clearance -
Fact Finding 26 Mar 2020 to 26 Mar 2020
MRM -
Approval 05 Oct 2020
Last Review Mission -
Last PDS Update 07 Oct 2020

TA 6573-KGZ

Financing Plan/TA Utilization Cumulative Disbursements
ADB Cofinancing Counterpart Total Date Amount
Gov Beneficiaries Project Sponsor Others
225,000.00 0.00 0.00 0.00 0.00 0.00 225,000.00 - 0.00

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