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KYRGYZSTAN


 

 

In-depth Business Intelligence

Key Economic Data 
 
  2003 2002 2001 Ranking(2003)
GDP
Millions of US $ 1,737 1,632 1,500 145
         
GNI per capita
 US $ 330 290 280 178
Ranking is given out of 208 nations - (data from the World Bank)

Books on Kyrgyzstan

REPUBLICAN REFERENCE

Area (sq.km) 
198,500 

Population 
5,081,429

Principal 
ethnic groups
Kyrgyz 52.4%
Russians 21.5%
Uzbeks 12.9%

Capital
Bishkek 

Currency 
Kyrgyz Som 

President 
Askar Akayev



Update No: 311 - (29/11/06)

The back of beyond
Kyrgyzstan is a very poor and remote country, with few resources other than breathtakingly beautiful scenery. One day it will doubtless become a tourist centre for the increasingly prosperous Chinese, Koreans and Indians. But it has not done so yet. 
It is a republic of 5.2 million people that is about twice as big as Poland, is home to a US military base that serves troops fighting in Afghanistan. The US agreed earlier this year to extend its lease through 2007. Russia and China, which border Kyrgyzstan, have sought to have the base removed. 

The turn of the revolutionary screw
Revolutions are dangerous affairs. They put ideas into people's heads. Kyrgyzstan had its 'Tulip revolution' in March last year. It is now threatening to have a re-run of it. 
President Kurmanbek Bakiyev, who came to power then, is not at all popular. Expectations were raised that could not be easily met. Bakiyev was elected in 2005, vowing to stamp out corruption and cut the role of the presidency, after the ``Tulip Revolution'' toppled the decade-long regime of Askar Akayev, whose 14 years of increasingly unchecked power led to graft. Bakiyev has since failed to submit constitutional changes to strengthen parliament's powers. 
Throngs of demonstrators demanding constitutional reform have created a political crisis in Bishkek. Russian state television showed footage on November 6th of Kyrgyz law enforcement officials firing tear gas into crowds of protesters in the capital after demonstrators threw projectiles. Protesters began gathering outside the parliament November 2nd to demand Bakiyev allow the legislature to appoint senior officials and make state television an independent public broadcaster. 
The opposition, which controls roughly half the 75-seat parliament, joined the throng. The main opposition leader, Omurbek Tekebayev, addressed the crowds: "the president has been lying endlessly to us about the constitution and we are tired of this lying."

Bakiyev Threatens to Dismiss Parliament as Standoff Intensifies 
The president said that he may dismiss parliament after a week-long standoff with lawmakers over constitutional change in the former Soviet republic. ``Dismissing parliament isn't my goal,'' Bakiyev told journalists in remarks later e-mailed by his press office. ''But if the clash between the executive branch and parliament continues, I won't be able to stand on the sidelines.'' 
''The situation appears to be more tense than a week ago,'' said Medet Tiulegenov, head of the Soros Foundation's Bishkek office. He said there could be clashes between Bakiyev supporters and the protesters. 
Lawmakers opposed to Bakiyev, led by members of the For Reform movement, called a meeting in parliament to vote on a new constitution in early November. Bakiyev said the deputies involved aimed to ''usurp power'' in the country. 

Shops Start Closing 
Bishkek's major shops began closing amid concern the protests may turn violent, the Kyrgyz state news agency reported. Stores in the capital were looted last year during the upheaval that led to Akayev's overthrow. 
Bakiyev spoke to fellow Central Asian presidents Nursultan Nazarbayev of Kazakhstan and Islam Karimov of Uzbekistan by phone regarding a summit of Central Asian nations soon. Nazarbayev inquired about the situation in Kyrgyzstan, according to the statement. 

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BANKING

Kyrgyzstan int'l reserves at National Bank grow 17.4% 


Gross international reserves at the National Bank of Kyrgyzstan grew 17.4 percent to 718.9 million Euro in January to September 2006 from 612.4 million Euro on January 1, Chairman of the National Bank Marat Alapayev said at a press conference on October 16, Interfax reported. Money supply rose 25.8 percent to 19.455 billion som in the period from 15.466 billion som after growing 1.8 percent in the same period last year, he said. The exchange rate of the national currency grew five percent against the US dollar to 39.2373 som/one Euro on October 1, Alapayev said. The som strengthened 1.86 percent against the US dollar and stood at 40.8506 som/one Euro in January to September 2005. The foreign debt stood at 2.139 billion Euro on June 1, 2006. Kyrgyzstan had an estimated trade deficit of around 448.8 million Euro in the first nine months of 2006 compared with 225 million Euro in the same period last year, Alapayev said. Exports increased 20.7 percent to 526.6 million Euro and imports grew 47.5 percent to around 975.3 million Euro.

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FOREIGN ECONOMIC COOPERATION

Plans to expand economic, trade ties Iran-Kyrgyzstan 

Head of Iran-Kyrgyzstan Parliamentary Friendship Group Mohammad Qomi at a meeting met with Kyrgyz Ambassador to Tehran Avazbek Agakhanov and called for the expansion of mutual relations in economic and trade fields, Irinnews reported. According to a report released by the Majlis Media Department, Qomi pointed out the bilateral and inter-parliamentary ties between Iran and Kyrgyzstan. He expressed hope that such cooperation will continue thanks to the efforts of parliamentary friendship groups of the two states. Turning to the favourable mutual bonds in trade and economic sectors, he called for broadening of such ties. Qomi pointed to the exchange of visits between Iranian and Kyrgyz officials in recent years and said that the political will of the heads of states of the two countries can guarantee further bolstering of relations. For his part, Agakhanov expressed satisfaction with the growing trend of bilateral ties and said: "The numerous capacities in various economic, industrial and cultural fields should be used for strengthening of such cooperation." The Kyrgyz diplomat referred to the outcome of the last joint economic commission meeting as positive and said that his country will cooperate with Iran to raise the level of bilateral ties, particularly inter-parliamentary cooperation. 

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GOLD PRODUCTION

Gold output plummets 37.4% in 9 months 

Kyrgyzstan reduced gold production 37.4 percent year-on-year in January-September to 8,399 kilograms, the State Geology and Mineral Resources Agency told Interfax. The agency said it had envisaged gold production falling 17.7 percent to 10,200.5 kg. Gold output in value was 12.982 billion som (39.1245 som/one Euro), or 0.2 percent above target, due to higher gold prices.The Kumtor Gold Company joint venture reduced gold production 40.2 percent in the nine months to 7,499 kg, which was 17.4 percent below plan. Output in value was 5.87 billion som - slightly below a targeted 5.98 billion som - compared with 7.063 billion som in the same period of last year. Gold production fell here because of a pit wall slide in July and because the company was mining lower grade ore. The state-owned Kyrgyzaltyn produced 899.9 kg of gold in the nine months, including refined gold. Out-put in value was 709.6 million som, not including refining. The targets were 1,122.6 kg and 575.2 million som respectively. Output was 903.5 kg or 10.731 billion som (including refining) in January-September 2005.

 

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