Republic of Tajikistan: Ex Post Assessment of Longer-Term Program Engagement

IMF Staff Country Reports, February 17, 2006

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This paper discusses Ex Post Assessment of Longer-Term Program Engagement for the Republic of Tajikistan.
Publication date shown on the page: February 17, 2006.
The assessment covers the period 1998–2005.

Economic growth during this period has far exceeded program projections.
Inflation performance has at times been volatile, and often overshot program targets.
Macroeconomic stabilization was mainly driven by a strong fiscal consolidation.
Monetary policy has occasionally undermined inflation performance.
Initial progress in implementing structural reforms was uneven.

Robust macroeconomic performance overall during 1998–2005, with occasional lapses.
Strong fiscal consolidation identified as the main driver of stabilization.
Volatile inflation and frequent overshooting of program targets.
Monetary policy actions at times contributed to weaker inflation outcomes.
Structural reform implementation showed uneven initial progress.

Subjects: Arrears, Banking, Debt rescheduling, Economic sectors, Energy sector, External debt, Fiscal consolidation, Fiscal policy, Government debt management, Public financial management (PFM)
Keywords: Arrears, Central Asia, central bank, civil war, CR, debt management, Energy sector, Fiscal consolidation, fund advice, fund competency, fund engagement, fund Involvement, fund program, fund staff report, fund support, government, Government debt management, implementation record, ISCR, lack of experience, staff report, state control, Tajikistan, The Fund

Republic of Tajikistan: Ex Post Assessment of Longer-Term Program Engagement (February 17, 2006).