Ruslan Arykov

Chief Economist, Monetary Operations Department, Central Bank of the Kyrgyz Republic

Ruslan Arykov joined CGAP under the Professional Affiliation framework as part of the Humphrey Fellowship Program at the Boston University, where his research focuses on the financial stability impacts of the Russia-Ukraine war. He is Chief Economist of the Monetary Operations Department of the Central Bank of the Kyrgyz Republic, where he is responsible for foreign reserves management of the Kyrgyz Central Bank, and previously, worked at the Bank’s Financial Stability Department. Ruslan has published extensively on foreign reserves management, international financial markets, and macro-financial policy.


By Ruslan Arykov


Financial Inclusion and Stability: A Balancing Act

Understanding the relationship between financial inclusion and stability is imperative for policymakers to advance both these goals and respond to shocks that threaten financial stability in ways that protect inclusion.