Operational Assessment of the financial circuits and procedures in the Kyrgyz Republic.

The assignment was carried out within the Framework Service Contract ECFIN/012/2011 for Operational and PEFA Assessments. The objective was to ensure that the Kyrgyz public finance management system provided sufficient safeguards in view of a future Macro-Financial Assistance programme by DG ECFIN, through an assessment of the following areas:

• PFM system and PFM reforms
• Budget preparation
• Budget execution
• Public internal financial control and internal audit
• External audit
• Public procurement
• Debt management
• National Bank of the Kyrgyz Republic

This Operational Assessment took place six months after the election of a new president and the formation of a new Government, in a context of political appeasement and stabilisation.