National Bank of the Kyrgyz Republic Governor Melis Turgunbaev participated in the International Monetary Fund and World Bank Group Annual Meetings in Washington, DC (13–18 October 2025) and took part in a closed-door meeting of central bank governors from the Middle East and Central Asia focused on policy responses to global economic turbulence and adaptation to rising geofragmentation and uncertainty. As a lead speaker alongside the heads of the Bank of England and the central banks of Egypt and Armenia, Turgunbaev highlighted the need for small economies to adapt to an environment of stronger protectionism and reduced predictability. He also pointed to challenges from the global growth of cryptoassets and other digital financial instruments, setting out the Kyrgyz regulator’s support for the phased development of regulated digital infrastructure, including central bank digital currencies, to improve transparency, strengthen control over money circulation, and support financial system stability. The remarks also called for more active IMF engagement on digital asset regulation and institutional support amid rapid technological change.
National Bank of the Kyrgyz Republic 2025-10-18
National Bank of the Kyrgyz Republic chair advocates phased regulated digital infrastructure including CBDCs at IMF and World Bank Annual Meetings
National Bank of the Kyrgyz Republic Governor Melis Turgunbaev attended the IMF and World Bank Group Annual Meetings, stressing small economies' need to adapt to protectionism and unpredictability. He advocated phased development of regulated digital infrastructure, including central bank digital currencies, to enhance transparency and financial stability. Turgunbaev also urged greater IMF involvement in digital asset regulation amid rapid technological advancements.