Kyrgyzstan: a combination of traditional and unorthodox tactics offers a promising route to improving economic and financial literacy

“People really value the things that we do”, says Kemel Toktomushev, Senior Research Fellow with the Institute of Public Policy and Administration at the University of Central Asia, EFI’s country partner in Kyrgyzstan. “Economic and financial literacy is something that is really lacking in our part of the world. Someone has to make a change”.

When EFI launched the Kyrgyz edition of “Common Sense Economics” in late 2022, Kemel and his team adopted a fully digital approach to promoting the book, leveraging the country’s strong internet connectivity and low data costs. New TikTok and Instagram accounts rapidly attracted thousands of followers, with content including educational posts, quizzes, and videos on economic concepts such as SWIFT and currency exchange rates. Earlier this year, a PR campaign involving 8 prominent Kyrgyz bloggers reached nearly 300,000 young people and led to over 4,000 downloads of the book in just a few months. Kemel also uses his personal Instagram account, with now more than 50,000 followers,to promote economic and financial literacy. So widespread is his reach that he is regularly recognized by Bishkek’s cabdrivers. So far, more than 18,000 copies of the book have been downloaded across Kyrgyzstan. With support from EFI, UCA launched its Akchasana Conference, assembling entrepreneurs, businessmen, celebrities and influencers to discuss investments, creative economics, financial literacy, and career development with a student audience. The conference has now become an annual event, attracting over 250 participants as well as growing support from local partners including the American Chamber of Commerce.

 Together, EFI and UCA brought the Economics Olympiad to Kyrgyzstan in 2022. This annual international high school competition culminates in a final round held at Ancient Olympia. In its first year in the country, almost 1700 students took part, expanding to more than 2800 this year. The competition has attracted the support of the Ministry of Education and has already become a cornerstone for promoting economic literacy. Munara Omuralieva, another member of the EFI team at UCA, is drafting a chapter for an upcoming book that examines the effects of COVID-19 on education in Kyrgyzstan. Her research is deeply influenced by UCA’s partnership with EFI, reflecting the broader educational impacts of the collaboration, both in Kyrgyzstan and in other countries across the network.  

“This is the most exciting project initiative that I’ve been engaged with”, says Kemel. “It’s important and meaningful - and it’s fun. It really makes economics fun, and shows that it can be studied in an engaging manner”.