Islamic Republic of Afghanistan: Fifth Review Under the Extended Credit Facility Arrangement and Request for Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for the Islamic Republic of Afghanistan

June 10, 2019

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Islamic Republic of Afghanistan: Fifth Review Under the Extended Credit Facility Arrangement and Request for Modification of Performance Criteria-Press Release; Staff Report; and Statement by the Executive Director for the Islamic Republic of Afghanistan, (USA: International Monetary Fund, 2019) accessed November 18, 2024

Summary

This paper discusses Afghanistan’s Fifth Review under the Extended Credit Facility (ECF) Arrangement and Request for Modification of Performance Criteria. The paper highlights that in the face of many headwinds, Afghanistan’s government continues to demonstrate strong ownership of the program supported by the ECF arrangement. The economic outlook is clouded by numerous uncertainties; however, ongoing peace negotiations offer hope for a much-needed improvement in the security situation. The security situation remains strained, but the US-Taliban peace negotiations have improved prospects for a political settlement. External financing should continue to rely on grants and concessional funding. Any scaling up of externally financed public investment should be gradual and preceded by an assessment of macro-fiscal implications and strengthened debt management. Continued reforms remain key to achieving higher and more inclusive growth. Reforms in support of fiscal sustainability, institution building, anti-corruption efforts, and financial stability should continue.

Subject: Banking, Budget planning and preparation, Central banks, Credit, Currencies, Expenditure, International reserves, Money, Public financial management (PFM)

Keywords: Budget planning and preparation, CR, Credit, Currencies, Development spending, Doing business ranking, Execution, Executive board discussion, Export promotion initiative, Financing option, Global, Government, Government institution, Government priority, International reserves, ISCR

Publication Details

Pages:

83
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2019/157
Stock No:

1AFGEA2019001
ISBN:

9781498318815
ISSN:

1934-7685

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