Askar Akayev was once lauded by Western countries as a democratic outlier in a region of despots and strongmen.

The illicit business has boomed as bicycles become a market increasingly being filled with high-end models costing thousands of Euros.

The government of President Shavkat Mirziyoyev is on a non-stop effort to totally overhaul the economy and image of Central Asia’s largest country.

The bank said that the new forecast would also reflect an improved outlook for Armenia and Georgia.