BISHKEK, Kyrgyzstan, October 23. Kyrgyzstan and
the International Monetary Fund (IMF) discussed the technical
implementation of a digital som (the currency of Kyrgyzstan),
Trend reports.
The issue was raised during a meeting between Melis Turgunbaev,
Chairman of the National Bank of Kyrgyzstan, and Tobias Adrian,
Director of the IMF’s Monetary and Capital Markets Department, as
part of the Annual Meetings of the IMF and World Bank Group in
Washington, DC.
During the meeting, topics related to cooperation for further
development of the National Bank of Kyrgyzstan’s monetary policy
framework were also discussed.
The pilot project for the digital som is planned to launch in
Kyrgyzstan in 2027. The digital som will represent the national
currency in digital form and will be a legal payment method within
the country. The National Bank will serve as the operator of the
digital som platform
To note, the 2024 Annual Meetings of the International Monetary
Fund (IMF) and the World Bank Group (WBG) are taking place from
Monday, October 21 through Saturday, October 26. As a rule, the
Annual Meetings convene central bankers, finance and development
ministers, private sector leaders, civil society representatives,
media, and academics to address global issues such as the world
economic outlook, financial stability, poverty alleviation,
inclusive economic growth, and job creation.
