IMF recommends National Bank of Kyrgyzstan to transfer acquired problem bank to state

AKIPRESS.COM - IMF Executive Directors urged the National Bank of Kyrgyzstan to transfer the recently acquired problem bank to the state as soon as possible.
The National Bank was also recommended to eliminate conflict of interest with its role as central bank and banking supervisor, to protect the central bank's balance sheet, and to allow it to better focus on monetary policy formulation and implementation and banking supervision.
IMF Directors noted the challenge of maintaining correspondent banking relationships (CBRs) and supported the call for an active role of IMF in assisting members to address CBR withdrawal.