On December 4, 2015, the Executive Board of the International Monetary Fund (IMF) completed the first review of the Kyrgyz Republic’s economic performance under the three-year arrangement under the Extended Credit Facility (ECF). The Board’s approval enables the immediate disbursement of SDR 9.5 million (about US$13.2 million). This would bring total disbursements under the arrangement to SDR 19 million (about US$26.4 million). “The Kyrgyz authorities have managed successfully to keep the program largely on track despite that the economy continues to face adverse external and domestic shocks. The economic slowdown, currency depreciations in the region, and falling gold prices and remittances have reduced economic growth, worsened external and fiscal balances, and weakened debt sustainability. Budgetary slippages linked to the October elections have also weakened the fiscal situation.