ORDER OF THE GOVERNMENT OF THE KYRGYZ REPUBLIC AND NATIONAL BANK OF THE KYRGYZ REPUBLIC

of February 27, 2018 No. 113/3-1

About Regulations of interaction of state bodies of the Kyrgyz Republic concerning cooperation with the International Monetary Fund

For the purpose of establishment of procedure and ensuring the coordinated interaction of state bodies concerning cooperation with the International Monetary Fund, according to articles 5 and 9 of the Law of the Kyrgyz Republic "About membership of the Kyrgyz Republic in international financial institutions", articles 10 and 17 of the constitutional Law of the Kyrgyz Republic "About the Government of the Kyrgyz Republic", articles 20 and 46 of the Law of the Kyrgyz Republic "About National Bank of the Kyrgyz Republic, banks and banking activity" the Government of the Kyrgyz Republic and National Bank of the Kyrgyz Republic decide:

1. Approve Regulations of interaction of state bodies of the Kyrgyz Republic concerning cooperation with the International Monetary Fund according to appendix.

2. In week time to send to National Bank of the Kyrgyz Republic Regulations of interaction of state bodies of the Kyrgyz Republic concerning cooperation with the International Monetary Fund to permanent mission of the International Monetary Fund in the Kyrgyz Republic.

3. Recommend to the International Monetary Fund when implementing correspondence (reports, materials, letters) with state bodies of the Kyrgyz Republic to use Russian as working language.

4. This resolution becomes effective from the date of official publication.

5. To impose control of execution of this resolution on National Bank of the Kyrgyz Republic and department of finance and credit policy of Government office of the Kyrgyz Republic.

Prime Minister of the Kyrgyz Republic

S. Isakov

Chairman of National Bank of the Kyrgyz Republic

T. Abdygulov

 

Appendix

Approved by the Order of the Government of the Kyrgyz Republic and National Bank of the Kyrgyz Republic of February 27, 2018, No. 113/3-1

Regulations of interaction of state bodies of the Kyrgyz Republic concerning cooperation with the International Monetary Fund

1. General provisions

1. These Regulations establish procedure for the organization of work on ensuring the coordinated interaction of state bodies of the Kyrgyz Republic with the International Monetary Fund (further - the IMF).

2. The chairman of National Bank of the Kyrgyz Republic is managing director from the Kyrgyz Republic in the IMF, the Minister of Finance of the Kyrgyz Republic is alternate of the President of the Kyrgyz Republic managing from the Kyrgyz Republic in the IMF according to the order of January 27, 2012 No. 11.

3. Interaction of all state bodies of the Kyrgyz Republic with the IMF is performed through National Bank of the Kyrgyz Republic (further - National Bank).

4. For the purpose of realization of Item 3 of these Regulations, for forming of single line item of the Government of the Kyrgyz Republic the Ministry of Finance of the Kyrgyz Republic (further - the Ministry of Finance) in full provides coordination and interaction of state bodies of the executive authority, and also informs the Ministry of Foreign Affairs of the Kyrgyz Republic concerning cooperation with the IMF according to the Law of the Kyrgyz Republic "On interaction of state bodies in the field of foreign policy of the Kyrgyz Republic".

5. Interaction of executive bodies of the Kyrgyz Republic and National Bank, is equal as interaction of executive bodies of the Kyrgyz Republic and the IMF, is performed with obligatory specifying as the addressee of Government office of the Kyrgyz Republic.

6. Interaction of the Kyrgyz Republic with the IMF is performed in the following directions:

1) economic programs within credit mechanisms of the IMF;

2) carrying out consultations under the relevant articles of the Agreement of the IMF;

3) the technical assistance provided to the IMF;

4) on other questions of cooperation with the IMF.

2. Order of interaction

7. The National Bank is authorized:

1) to represent line item of the Kyrgyz Republic to the IMF;

2) to perform correspondence and to conduct negotiations with the IMF on behalf of the Kyrgyz Republic;

To initiate 3) if necessary working meetings with management of the Government of the Kyrgyz Republic and heads of other state bodies concerning cooperation with the IMF;

4) to request and receive from state bodies of the executive authority (through the Ministry of Finance) and other bodies of state bodies information on the directions of cooperation with the IMF in accordance with the established procedure;

5) to receive from state bodies of the executive authority (through the Ministry of Finance) and other state bodies the information/answers/materials intended for the direction in the IMF concerning cooperation of the Kyrgyz Republic with the IMF specified in subitems 1 and 2 of Item 6 of these Regulations;

To receive 6) from state bodies of the executive authority and other state bodies of the copy of the regular statistic reports provided within implementation of subitems 1 and 2 of Item 6 of these Regulations and information specified in subitems 3 and 4 of Item 6 of these Regulations;

7) to inform Government office of the Kyrgyz Republic and the Ministry of Finance concerning cooperation of the Kyrgyz Republic with the IMF specified in subitems 1 and 2 of Item 6 of these Regulations.

8. State bodies of the executive authority:

1) according to item 4 of these Regulations perform interaction with the IMF through the Ministry of Finance;

2) when obtaining from the IMF of request about submission of information, conclusion, examination or other document provide in accordance with the established procedure the corresponding answer in the Ministry of Finance.

In case of submission of information to the Ministry of Finance for the subsequent redirection in National Bank in the cover letter without fail it is specified: "Goes for sending to the IMF";

3) is represented to the Ministry of Finance by information/answers/materials on all questions of cooperation of the Kyrgyz Republic with the IMF specified in Item 6 of these Regulations.

For efficiency information sent to the Ministry of Finance is provided in electronic format with obligatory subsequent dosyl of the printing version;

4) is independently sent by regular statistic reports to the IMF and specify in the copy of addressees of responsible persons of National Bank and Ministry of Finance.

9. The Ministry of Finance of the Kyrgyz Republic for the purpose of realization of Item 3 and 4 of these Regulations is authorized:

To request 1) (through Government office of the Kyrgyz Republic) and to receive from state bodies of the executive authority the information/answers/materials intended for sending to the IMF concerning cooperation of the Kyrgyz Republic with the IMF specified in subitems 1 and 2 of Item 6 of these Regulations and to send to National Bank for the subsequent sending to the IMF;

2) to coordinate and develop the approved single line item of the Government of the Kyrgyz Republic;

3) to send the approved single line item of the Government of the Kyrgyz Republic to National Bank concerning cooperation with the IMF specified in subitems 1 and 2 of Item 6 of these Regulations;

To develop 4) together with National Bank line item of the Kyrgyz Republic on cooperation with the IMF.

On each question sent to National Bank the cover letter with statement of essence of question and accurately formulated project of decision/line item is submitted.

In case of submission of information to National Bank for the subsequent redirection in the IMF in the cover letter without fail it is specified: "Goes for submission to the IMF".

For efficiency information sent to National Bank is duplicated in electronic format and transmitted through e-mail to the authorized person about specifying of addresses of receivers in the IMF;

5) independently to perform interaction from the IMF in the directions of cooperation of the Government of the Kyrgyz Republic with the IMF specified in subitems 3 and 4 of Item 6 of these Regulations at the same time the copy of correspondence to send to National Bank.

10. Other state bodies of the Kyrgyz Republic:

1) perform interaction with the IMF through National Bank in the directions of cooperation specified in subitems 1 and 2 of Item 6 of these Regulations;

2) when obtaining from the IMF of request about submission of information, conclusion, examination or other document in the directions of cooperation specified in subitems 1 and 2 of Item 6 of these Regulations represent in accordance with the established procedure the corresponding answer to National Bank for the subsequent redirection in the IMF. On each question sent to National Bank the cover letter with statement of essence of question and accurately formulated project of decision/line item is submitted. In case of submission of information to National Bank for the subsequent redirection in the IMF in the cover letter without fail it is specified: "Goes for sending to the IMF".

For efficiency information sent to National Bank is duplicated in electronic format and transmitted through e-mail to the authorized person with indication of addresses of receivers in the IMF;

3) independently perform interaction from the IMF in the directions of cooperation specified in subitems 3 and 4 of Item 6 of these Regulations, at the same time send the copy of correspondence to National Bank;

4) is independently sent by regular statistic reports to the IMF and specify in the copy of addressees of responsible persons of National Bank.

11. Submission of information containing data of "chipboard" is performed according to the legislation on operating procedure with documents with signature stamp of "chipboard".

3. Visits of missions of the IMF

12. According to the appeal of the IMF to the Kyrgyz Republic National Bank together with the Ministry of Finance make the decision on the acceptability of the offered dates of visit of mission of the IMF on the forthcoming visits of missions of the IMF.

13. The National Bank provides coordination and approval of the schedule of meetings and questions to discussion within the visit with the mission of the IMF together with state bodies of the executive authority (through the Ministry of Finance) and other state bodies of the Kyrgyz Republic.

14. The National Bank sends to the IMF line item of the Kyrgyz Republic about the acceptability of required dates of visit of mission of the IMF and the schedule of the planned meetings.

15. Feasibility and level of meetings of the President of the Kyrgyz Republic, the Prime Minister of the Kyrgyz Republic, heads of state bodies of the executive authority and other state bodies of the Kyrgyz Republic with representatives of the IMF is determined through National Bank.

16. All state bodies hold working meetings with the mission of the IMF for questions within the established competence according to the approved schedule of meetings following the results of which they represent the protocol of meeting to National Bank.

17. Representatives of National Bank can participate in meetings of all public authorities with the mission of the IMF. Representatives of the Ministry of Finance can participate in meetings of state bodies of the executive authority with the mission of the IMF.

4. Responsibility of subjects of interaction

18. Heads of state bodies of the Kyrgyz Republic bear the personal responsibility for proper execution of these Regulations.

5. Final provisions

19. For the purpose of development, acceptance and reflection of line item of the Kyrgyz Republic on appropriate questions public authorities of the Kyrgyz Republic perform regular exchange of information.

20. Each state body participating in implementation of these Regulations determines one responsible contact person in the department through which interaction with National Bank and the Ministry of Finance concerning cooperation with the IMF will be performed.

 

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