Issue 815 - 26.02.2021
26.02.2021

President of Kyrgyzstan announces intention to continue strengthening strategic partnership with Russia

Kyrgyzstan will continue to strengthen its strategic partnership and allied relations with Russia. This was announced on Wednesday by the country's President Sadyr Japarov at a meeting in Moscow with Russian President Vladimir Putin.

Undoubtedly, my first foreign visit to you as President of Kyrgyzstan proves the high level of bilateral relations between our countries. We intend to continue strengthening strategic partnership and allied relations. First of all, I express my deep gratitude to you for your support and comprehensive assistance in the settlement of the political crisis, Japarov said.

The President of Kyrgyzstan noted that the republic intends to continue cooperation with the EAEU, CIS, CSTO and SCO. This is a priority of the foreign policy and economic course of our country, Japarov stressed.

The Kyrgyz leader expressed gratitude for his support during the difficult times associated with the pandemic. I also want to note that the high efficiency and safety of the Russian vaccine against coronavirus is recognized by the world community. I hope we will also launch a campaign to vaccinate the population in the near future, he said.

Japarov also invited Putin to pay an official visit to Kyrgyzstan.

On Tuesday, the Kyrgyz Ministry of Health announced that the Russian Sputnik V coronavirus vaccine has officially passed the registration procedure in the republic. According to the department, the registration of the drug will allow to start vaccination of the population in the near future. As the Minister of Health of Kyrgyzstan Alymkadyr Beishenaliev stated earlier, the republic has sent an application to Russia for receiving a batch of the Sputnik V vaccine. The issue of its production on the territory of Kyrgyzstan is being discussed.

Sadyr Japarov, who won the presidential elections in Kyrgyzstan on January 10, arrived in Russia on Wednesday as part of his first foreign visit as head of state. According to the press service of the President of Kyrgyzstan, in addition to negotiations with Russian leader Vladimir Putin, Japarov is scheduled to meet with Russian Prime Minister Mikhail Mishustin, Federation Council Chairman Valentina Matvienko and State Duma Chairman Vyacheslav Volodin. A meeting is also expected with the Russian business community, as well as with compatriots and students from Kyrgyzstan studying at Russian universities. Japarov's visit will last two days.

Reported by Asiais (Russia).

Kyrgyzstan General

26.02.2021

Kyrgyzstan faced with unseen corruption scheme

To compensate Kyrgyzstan for damage from years of corruption schemes, an influential former official bought apartments throughout Bishkek and handed them over to the state.

It seemed that the hour of reckoning had struck for Raiymbek Matraimov.

The former deputy head of the Kyrgyz Customs Service, the famous rich man nicknamed Raiym...

To compensate Kyrgyzstan for damage from years of corruption schemes, an influential former official bought apartments throughout Bishkek and handed them over to the state.

It seemed that the hour of reckoning had struck for Raiymbek Matraimov.

The former deputy head of the Kyrgyz Customs Service, the famous rich man nicknamed Raiym...

26.02.2021

USA thought to prepare Kyrgyzstan for new revolution

The appointments made by Joseph Biden after coming to power indicate that the administration of the new US president is filled with ideologically charged left-liberal democrats who are motivated to spread their values around the world, and will use any means for this. The accents in foreign policy are placed...

The appointments made by Joseph Biden after coming to power indicate that the administration of the new US president is filled with ideologically charged left-liberal democrats who are motivated to spread their values around the world, and will use any means for this. The accents in foreign policy are placed...

26.02.2021

51 new COVID-10 cases registered in Kyrgyzstan

Kyrgyzstan added on Friday 51 new COVID-19 cases, after conducting 3,338 tests within a day, raising the tally of infections to 86,142

The State Headquarters for Combating COVID-19 said that 55 people recovered over the past day, taking the national count to 83,061.

The death stands at 1,463 as no new COVID-19...

Kyrgyzstan added on Friday 51 new COVID-19 cases, after conducting 3,338 tests within a day, raising the tally of infections to 86,142

The State Headquarters for Combating COVID-19 said that 55 people recovered over the past day, taking the national count to 83,061.

The death stands at 1,463 as no new COVID-19...

Finance and Investment

26.02.2021

Eurasian Economic Commission and the EAEU Court strengthen cooperation

Chairman of the Board of the Eurasian Economic Commission Mikhail Myasnikovich met with the Chairman of the Court of the Eurasian Economic Union Erna Ayriyan on February 24 at the EEC headquarters.

During the meeting, issues of further cooperation of the bodies of the Eurasian Economic Union to improve the efficiency...

Chairman of the Board of the Eurasian Economic Commission Mikhail Myasnikovich met with the Chairman of the Court of the Eurasian Economic Union Erna Ayriyan on February 24 at the EEC headquarters.

During the meeting, issues of further cooperation of the bodies of the Eurasian Economic Union to improve the efficiency...

26.02.2021

Inflation in Kyrgyzstan at the end of 2020 exceeds the EAEU target

The inflation target in the countries of the Eurasian Economic Union was 8.7% at the end of 2020 and increased by 3% compared to 2019. Inflation in Kyrgyzstan exceeded the target of the EAEU, in connection with which the Eurasian Economic Commission in 2021 will develop recommendations for Kyrgyzstan on...

The inflation target in the countries of the Eurasian Economic Union was 8.7% at the end of 2020 and increased by 3% compared to 2019. Inflation in Kyrgyzstan exceeded the target of the EAEU, in connection with which the Eurasian Economic Commission in 2021 will develop recommendations for Kyrgyzstan on...

26.02.2021

Weakening of the Kyrgyz som exchange rate and growth of the risk premium

An unfavourable financial shock and a slowdown in the growth of the world economy will lead to a noticeable deterioration in the country's economic activity, the EDB economists believe, comparing model estimates in the baseline and alternative scenarios.

According to the EDB, the high level of uncertainty will affect the growth...

An unfavourable financial shock and a slowdown in the growth of the world economy will lead to a noticeable deterioration in the country's economic activity, the EDB economists believe, comparing model estimates in the baseline and alternative scenarios.

According to the EDB, the high level of uncertainty will affect the growth...

26.02.2021

Kyrgyz president informs Russian businessmen on promising economic projects

Kyrgyz President Sadyr Zhaparov told representatives of large Russian business about promising economic projects in Kyrgyzstan and called for active cooperation.

The press service of the Kyrgyz president reported that the meeting took place on Thursday in the Russian capital city of Moscow.

"We express a high interest in cooperation with leading...

Kyrgyz President Sadyr Zhaparov told representatives of large Russian business about promising economic projects in Kyrgyzstan and called for active cooperation.

The press service of the Kyrgyz president reported that the meeting took place on Thursday in the Russian capital city of Moscow.

"We express a high interest in cooperation with leading...

26.02.2021

Kyrgyzstan expects gradual recovery of economies of trading partner countries

A gradual recovery of the economies of the trading partner countries of Kyrgyzstan is expected. This message was posted on the website of the National Bank of Kyrgyzstan.

This will help to increase economic activity in the republic to meet external demand in the medium term.

The rise in prices on the...

A gradual recovery of the economies of the trading partner countries of Kyrgyzstan is expected. This message was posted on the website of the National Bank of Kyrgyzstan.

This will help to increase economic activity in the republic to meet external demand in the medium term.

The rise in prices on the...

26.02.2021

As of end-2020, the net inflow of remittances from individuals to Kyrgyzstan increases by 2% and amounts to $1.9 billion

Domestic demand remains weak, but one of the factors behind its recovery is the positive dynamics of the inflow of remittances to the country. This message was posted on the website of the National Bank of Kyrgyzstan.

At the end of 2020, the net inflow of remittances from individuals to the...

Domestic demand remains weak, but one of the factors behind its recovery is the positive dynamics of the inflow of remittances to the country. This message was posted on the website of the National Bank of Kyrgyzstan.

At the end of 2020, the net inflow of remittances from individuals to the...

26.02.2021

Greenback extends depreciation as Pacific rivals, euro gain

The dollar index fell to a seven-week low on Thursday, the Australian dollar hit a three-year high and safe havens weakened as global growth optimism sent government debt yields surging worldwide.

Easy financial conditions, the promise of fiscal stimulus and accelerating COVID-19 vaccine rollouts have boosted expectations that growth and inflation...

The dollar index fell to a seven-week low on Thursday, the Australian dollar hit a three-year high and safe havens weakened as global growth optimism sent government debt yields surging worldwide.

Easy financial conditions, the promise of fiscal stimulus and accelerating COVID-19 vaccine rollouts have boosted expectations that growth and inflation...

26.02.2021

Global equity recovers losses as overall market disorientation persists

World stocks clawed back towards record highs on their third day of gains on Thursday as the dollar dropped to a three-year low, after top Federal Reserve and European Central Bank officials attempted to talk down rising bond market yields.

There was a lot to keep tabs on. A renewed retail...

World stocks clawed back towards record highs on their third day of gains on Thursday as the dollar dropped to a three-year low, after top Federal Reserve and European Central Bank officials attempted to talk down rising bond market yields.

There was a lot to keep tabs on. A renewed retail...

Metals and Minerals

26.02.2021

KAZ Minerals sees earnings rise as sales prices cover output reduction

Kazakhstan-/Kyrgyzstan-focused copper and gold miner KAZ Minerals reported on Thursday stronger annual earnings and lower debt, after rising commodity prices helped offset lower production.

The London-listed miner said copper output, which dipped to 306,000 tonnes in 2020 from 311,000 tonnes in 2019, was expected to slip further in 2021 to between...

Kazakhstan-/Kyrgyzstan-focused copper and gold miner KAZ Minerals reported on Thursday stronger annual earnings and lower debt, after rising commodity prices helped offset lower production.

The London-listed miner said copper output, which dipped to 306,000 tonnes in 2020 from 311,000 tonnes in 2019, was expected to slip further in 2021 to between...

26.02.2021

Kumtor accused of corruption scheme

Deputy Ermamat Tagaev, on February 25, at a parliamentary meeting, appealed to the state commission to study the activities of Kumtor.

In 2019, the Parliament Committee for the Fuel and Energy Complex held a visiting meeting at Kumtor.

“During the presentation, the president of the company told us that in the world...

Deputy Ermamat Tagaev, on February 25, at a parliamentary meeting, appealed to the state commission to study the activities of Kumtor.

In 2019, the Parliament Committee for the Fuel and Energy Complex held a visiting meeting at Kumtor.

“During the presentation, the president of the company told us that in the world...

26.02.2021

Bears return to bullion as US state securities post better yields

Gold shed more than 1.5% to a near one-week low on Thursday as a surge in U.S. Treasury yields and better-than-expected economic data out the United States dented demand for the safe-haven metal.

Spot gold was down 1.4% to $1,778.96 per ounce at 10:22 a.m. ET (1522 GMT), after earlier touching...

Gold shed more than 1.5% to a near one-week low on Thursday as a surge in U.S. Treasury yields and better-than-expected economic data out the United States dented demand for the safe-haven metal.

Spot gold was down 1.4% to $1,778.96 per ounce at 10:22 a.m. ET (1522 GMT), after earlier touching...

26.02.2021

Base metals except nickel persist in strong performance

Copper hit new peaks on Thursday, close to its highest in a decade, as investors scrambled to buy metals as a hedge against potential inflation from ongoing central bank stimulus.

Three-month copper on the London Metal Exchange was up 2.2% at $9,513.50 a tonne by 1140 GMT, after hitting its highest...

Copper hit new peaks on Thursday, close to its highest in a decade, as investors scrambled to buy metals as a hedge against potential inflation from ongoing central bank stimulus.

Three-month copper on the London Metal Exchange was up 2.2% at $9,513.50 a tonne by 1140 GMT, after hitting its highest...

Trade and Consumer Goods

26.02.2021

Prices continue to rise in the world food markets and inflation increases in Kyrgyzstan

The rise in prices on the world food markets continues and, as a result, there is an increase in inflation in the country. This message was posted on the website of the National Bank of Kyrgyzstan.

The value of annual inflation in Kyrgyzstan as of February 12, 2021 amounted to 10.2%.

The...

The rise in prices on the world food markets continues and, as a result, there is an increase in inflation in the country. This message was posted on the website of the National Bank of Kyrgyzstan.

The value of annual inflation in Kyrgyzstan as of February 12, 2021 amounted to 10.2%.

The...

26.02.2021

In January, production of alcoholic beverages and spices in Kyrgyzstan increases

In January 2021, industrial products were produced in Kyrgyzstan in the amount of 21 billion 795 million 980.4 thousand som, according to the data of the National Statistical Committee.

The volume of processed agricultural products in Kyrgyzstan amounted to 2 billion 583 million som.

The volume of food production increased by 13.4%...

In January 2021, industrial products were produced in Kyrgyzstan in the amount of 21 billion 795 million 980.4 thousand som, according to the data of the National Statistical Committee.

The volume of processed agricultural products in Kyrgyzstan amounted to 2 billion 583 million som.

The volume of food production increased by 13.4%...

Agriculture

26.02.2021

Poultry population in Kyrgyzstan decreases in 2021

In 2021, the poultry population decreased by 140 thousand heads, said today, on February 25, the head of the livestock department of the Ministry of Agriculture, Water Resources and Regional Development Rakhat Ibraev at a seminar in Bishkek dedicated to the development of egg production in Kyrgyzstan.

“Poultry farming is one...

In 2021, the poultry population decreased by 140 thousand heads, said today, on February 25, the head of the livestock department of the Ministry of Agriculture, Water Resources and Regional Development Rakhat Ibraev at a seminar in Bishkek dedicated to the development of egg production in Kyrgyzstan.

“Poultry farming is one...

26.02.2021

Deliveries of milling wheat from Russia will begin in April

The Minister of Agriculture of Russia Dmitry Patrushev said that supplies of the required volume of milling wheat will already begin in early April. He announced this at a meeting with the Minister of Agriculture, Water Resources and Regional Development of Kyrgyzstan Askarbek Dzhanybekov, the Ministry of Agriculture reports.

The parties...

The Minister of Agriculture of Russia Dmitry Patrushev said that supplies of the required volume of milling wheat will already begin in early April. He announced this at a meeting with the Minister of Agriculture, Water Resources and Regional Development of Kyrgyzstan Askarbek Dzhanybekov, the Ministry of Agriculture reports.

The parties...

26.02.2021

Ministry of Agriculture initiates amendments to the law on transformation of land plots

The Ministry of Agriculture, Water Resources and Regional Development has submitted for public discussion the draft law “On Amendments to the Law on the Transfer of Land Plots. This was reported on the government website.

The bill was prepared due to the lack of mechanisms for initiating the transfer (transformation) of...

The Ministry of Agriculture, Water Resources and Regional Development has submitted for public discussion the draft law “On Amendments to the Law on the Transfer of Land Plots. This was reported on the government website.

The bill was prepared due to the lack of mechanisms for initiating the transfer (transformation) of...

26.02.2021

US grain futures retreat as crystal ball gazers get it wrong again

Chicago soybeans rose on Thursday to a new 6-1/2 year high as rain delays to Brazil's harvest kept the focus on supply tensions in oilseeds and fuelled fund buying. Corn edged down after a three-day increase as the market assessed the risks of Brazil's slow-moving soybean harvest holding up corn...

Chicago soybeans rose on Thursday to a new 6-1/2 year high as rain delays to Brazil's harvest kept the focus on supply tensions in oilseeds and fuelled fund buying. Corn edged down after a three-day increase as the market assessed the risks of Brazil's slow-moving soybean harvest holding up corn...

Manufacturing industry

26.02.2021

Cost of industrial services in Kyrgyzstan assesssed

In January 2021, the cost of industrial services amounted to 2 billion 836.6 million som, according to the data of the National Statistical Committee.

In January 2020, this figure was 2 billion 418.3 million som.

The largest share in the total volume of industrial services belongs to the provision of electricity, gas,...

In January 2021, the cost of industrial services amounted to 2 billion 836.6 million som, according to the data of the National Statistical Committee.

In January 2020, this figure was 2 billion 418.3 million som.

The largest share in the total volume of industrial services belongs to the provision of electricity, gas,...

Oil and Gas Sector

26.02.2021

Brent holds strong position, US monetary policy pointed at

Oil prices remained close to 13-month highs on Thursday, with profit-taking limited by an assurance that U.S. interest rates will stay low and a sharp drop in U.S. crude output last week due to the storm in Texas.

Brent crude for April hit $67.70 a barrel during the session, its highest...

Oil prices remained close to 13-month highs on Thursday, with profit-taking limited by an assurance that U.S. interest rates will stay low and a sharp drop in U.S. crude output last week due to the storm in Texas.

Brent crude for April hit $67.70 a barrel during the session, its highest...

26.02.2021

North Sea region natural gas prices veer up with cold wave looming

Prompt British wholesale gas prices edged higher on Thursday morning, with temperatures set to drop and demand expected to rise from power plants.

The within-day contract was up 0.20 pence at 41.00 p/therm by 1044 GMT.The day-ahead contract was up 0.55 p at 41.55 p/therm.

Traders said power output from the country’s...

Prompt British wholesale gas prices edged higher on Thursday morning, with temperatures set to drop and demand expected to rise from power plants.

The within-day contract was up 0.20 pence at 41.00 p/therm by 1044 GMT.The day-ahead contract was up 0.55 p at 41.55 p/therm.

Traders said power output from the country’s...

Communications and Transportation

26.02.2021

Kyrgyzstan has up to 80 transport companies and up to 5 thousand vehicles conducting international transport

In Kyrgyzstan, there are up to 80 transport companies and up to 5 thousand vehicles engaged in international transportation, Deputy Minister of Transport, Architecture, Construction and Communications Talant Soltobaev said at a parliamentary meeting, answering a question from deputy Baktybek Turusbekov.

Parliament considered a bill on the accession of Kyrgyzstan to...

In Kyrgyzstan, there are up to 80 transport companies and up to 5 thousand vehicles engaged in international transportation, Deputy Minister of Transport, Architecture, Construction and Communications Talant Soltobaev said at a parliamentary meeting, answering a question from deputy Baktybek Turusbekov.

Parliament considered a bill on the accession of Kyrgyzstan to...

Regional News

26.02.2021

Russian market players experience trouble in forecasting industrial output

In the laboratory of business surveys of the Gaidar Institute, they calculated the index of surprises. It shows how the forecasts of companies regarding their main indicators differ from the actual results. The idea of such an index has been ripening among analysts for a long time, and 2020, in...

In the laboratory of business surveys of the Gaidar Institute, they calculated the index of surprises. It shows how the forecasts of companies regarding their main indicators differ from the actual results. The idea of such an index has been ripening among analysts for a long time, and 2020, in...

26.02.2021

Russia’s public debt grows due to anti-crisis measures

Russia’s national debt surged in 2020 by 5.4 trillion rouble ($73.5 bln), its biggest figure in history. The debt rose due to increased spending during the coronavirus pandemic, and the key source of this growth turned out to be domestic borrowings. The total debt volume hit 18% of GDP, but...

Russia’s national debt surged in 2020 by 5.4 trillion rouble ($73.5 bln), its biggest figure in history. The debt rose due to increased spending during the coronavirus pandemic, and the key source of this growth turned out to be domestic borrowings. The total debt volume hit 18% of GDP, but...

26.02.2021

Russia could gain on competitive currency

Rising oil prices and a weak rouble could boost Russian state coffers before a parliamentary election this autumn, giving the authorities more leeway for social spending despite the risk of fuelling inflation.

This year’s budget deficit is forecast to come in at 2.4% of gross domestic product (GDP), but Russia could...

Rising oil prices and a weak rouble could boost Russian state coffers before a parliamentary election this autumn, giving the authorities more leeway for social spending despite the risk of fuelling inflation.

This year’s budget deficit is forecast to come in at 2.4% of gross domestic product (GDP), but Russia could...

26.02.2021

Russian stocks ride high as currency remains on lower end

The rouble weakened on Thursday after hitting a more than one-week high against the U.S. dollar in early trade, drawing little support from higher oil prices or from easing fears of tough new sanctions over the jailing of Kremlin critic Alexei Navalny.

Worries about fresh sanctions against Russia have pressured the rouble for months, but...

The rouble weakened on Thursday after hitting a more than one-week high against the U.S. dollar in early trade, drawing little support from higher oil prices or from easing fears of tough new sanctions over the jailing of Kremlin critic Alexei Navalny.

Worries about fresh sanctions against Russia have pressured the rouble for months, but...

26.02.2021

China equity cools down, losses capped by strong property performance

China shares rebounded on Thursday, as strong gains in the property sector helped the market recover from sharp losses made a day earlier.At the close, the Shanghai Composite index was up 0.59 per cent at 3,585.05, while the blue-chip CSI300 index was ended 0.59 per cent higher at 5,469.56.

The smaller...

China shares rebounded on Thursday, as strong gains in the property sector helped the market recover from sharp losses made a day earlier.At the close, the Shanghai Composite index was up 0.59 per cent at 3,585.05, while the blue-chip CSI300 index was ended 0.59 per cent higher at 5,469.56.

The smaller...

26.02.2021

China sets new air-quality targets for next five years

China has announced new targets for tackling air pollution over the next five years, an environmental official said Thursday.

The country vowed to reduce the average PM2.5 density by 10 percent in 337 major cities between 2021 and 2025 compared with that of the previous five years, said Liu Bingjiang, an...

China has announced new targets for tackling air pollution over the next five years, an environmental official said Thursday.

The country vowed to reduce the average PM2.5 density by 10 percent in 337 major cities between 2021 and 2025 compared with that of the previous five years, said Liu Bingjiang, an...

Prices and Statistics

26.02.2021

Commodities

Date: February 26, 2021;Source: Bloomberg.com

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Date: February 26, 2021;Source: Bloomberg.com

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26.02.2021

Exchange Rates

Date: February 26, 2021; Source: the National Bank of Kyrgyzstan
1 US DOLLAR USD / KGS 84,6796
1 EURO EUR / KGS 103,3811
1 RUSSIAN ROUBLE RUB / KGS 1,1525
1 KAZAKHSTAN TENGE KZT / KGS 0,2044

Date: February 26, 2021; Source: the National Bank of Kyrgyzstan

1 US DOLLAR

USD / KGS

84,6796

1 EURO

EUR / KGS

103,3811

1 RUSSIAN ROUBLE

RUB / KGS

1,1525

1 KAZAKHSTAN TENGE

KZT / KGS

0,2044