Kyrgyzstan

Kyrgyzstan (/ˈkɜrɡɪstɑːn/ KUR-gi-stahn, /kɜrɡɪˈstɑːn/, or /ˈkɪərɡɪstɑːn/; Kyrgyz: Кыргызстан [qɯrʁɯzstɑ́n]; Russian: Кыргызстан [kᵻrɡᵻsˈtan]), officially the Kyrgyz Republic is one of the world’s independent Turkic states. Kyrgyzstan is landlocked (farther from an ocean than any other country) and mountainous (Peak Jengish Chokusu: 7,439 m). It is bordered by Kazakhstan to the north, Uzbekistan to the west, Tajikistan to the southwest and People’s Republic of China to the east. Its capital and largest city is Bishkek, with approximately 900,000 inhabitants (as of 2005).

Kyrgyzstan has significant deposits of metals including gold and rare earth metals. Due to the country’s predominantly mountainous terrain, less than 8% of the land is cultivated, and this is concentrated in the northern lowlands and the fringes of the Fergana Valley.

 

The Economy of Kyrgyzstan

Kyrgyzstan was one the first former Soviet countries to join the World Trade Organization and open its markets to foreign investors since the 1990’s. In 2000 the economy of Kyrgyzstan still was recovering from difficulties related to the economic challenges of the 1998 Russian economic crisis.

However, foreign trade were restored, price and exchange rate stability and fiscal consolidation gradually recovered. Heavy external debt repayment remains and threatens to decrease the rate of economic normalization.

Kyrgyzstan has been very successful in attracting Foreign Direct Investment (FDI) in the country’s chief economic sector of gold mining but unfortunately FDI sources in other sectors have proven problematic. Thus, as of 2004, some 45% of Kyrgyzstan’s exports were in gold and cotton fibre.

The Kyrgyz Republic faces considerable challenges of recovery and reconciliation following the events of April and June 2010, when a popular uprising led to the dismissal of President Kurmanbek Bakiev.

Supporting sustainable economic growth remains the major challenge facing the country. The government is currently preparing its long-term development strategy, with a focus on inclusive growth and poverty reduction.