Economic turmoil in Kyrgyzstan deepens after Prime Minister Otorbayev resigned

Eurasia News

Economic turmoil in Kyrgyzstan deepens in Kyrgyzstan after its Prime Minister Otorbayev resigned

Economic turmoil in Kyrgyzstan deepens in Kyrgyzstan after its Prime Minister Otorbayev resigned

Bishkek, Kyrgyzstan: The resignation of Kyrgyz Prime Minister Dzhoomart Otorbayev has further exposed the fragile political and economic conditions in the country. He is fourth prime minister resigning in last five years.

President Almazbek Atambayev on Friday signed a decree to accept resignation of the Prime Minister Joomart Otorbayev that follow formation of a new government in Kyrgyzstan.

Presidential decree ordered that all persons holding positions of Prime Minister, First Vice Prime Minister, Vice Prime Ministers, members of the government and heads of administrative departments will continue serving respectively until new government is formed.

His resignation is linked with poor economical performance this landlocked Central Asian country faced under his rule. Kyrgyzstan is facing deep economical recession since meltdown of Russian economy because Kyrgyz economy is heavily depending upon remittances sent by its population working in Russia. Some circles in Bishkek are also linking his resignation with his decision to suspend gold mine project with a Canadian based company– Centerra Gold.

The economic report submitted by Ministry of Economy indicated worst economical scenario as annual inflation rate has amounted to 110 percent while foreign trade turnover in January-February decreased by 13.4 percent.

Kyrgyz Prime Minister Djoomart Otorbayev resigned after a tense situation in Bishkek when two of his cabinet ministers including the Finance Minister Olga Lavrova resigned due to infighting of Kyryzstan with Canaddian based Gold Mine Company running biggest mine project in the country. On April 9, Kyrgyz authorities rejected any joint venture in Kumtor gold mines project and Otorbaev claimed that joint venture of Kumtor gold mines was not in the interest of his country.

Addressing a press conference against Canadian based company, Otorbaev indicated the change in entire management of Kumtor gold mine project and said that God saved Kyrgyzstan from signing the contract last year on unfavorable conditions because there were tricks involved in the project by the administration of the project.

Political circles in Bishkek are linking resignation of Otorbaev with situation that arose after this press conference.

According to Otorbaev, he decided to resign to give the opportunity to majority coalition to choose a decent Prime Minister. “I always wanted to work for the good of the country. I’m grateful for the fact that the report was acknowledged satisfactory,” Dzhoomart Otorbaev added. He was heading the government since April 9, 2014.

It may be mentioned that Kyrygz Finance Minister Olga Lavrova and Minister for Transport Kalykbek Sultanov resigned without assigning reasons for their resignations.


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