One of the most undeveloped post-Soviet states, Kyrgyzstan, is estimated to see sharp economic growth. The optimistic forecast was given by the International Monetary Fund. According to the organization, a significant increase would be possible due to the rise in gold mining activity. The gold production is the primary sector of the country's economy. Foreign investors mainly finance industrial projects, which thus strongly depend on overseas funds. However, despite such a dependency, Bishkek is not changing its decision to close the U.S. military base in this area. Political prohibitions like this one, in the opinion of Head of IMF mission Christian Beddis, hamper the region's economic growth. At a news conference, he said that in the current year, a 7.8% spike in the GDP is expected amid the recovery in the gold mining industry and other sectors of the economy. International experts note that presently the Asian republic is reliant on foreign investors and creditors, as well as on gold extraction in the biggest mine of the country, named Kumtor and owned by Canadian miner Centerra Gold Inc. The Kyrgyz authorities are planning to attract up to $13 billion mining investment to their economy within 5 years. Centerra and the Kyrgyzstan government have been in talks in order to renegotiate the Kumtor contract. The Kyrgyz government powers want a larger stake in the mine.
