Republic of Tajikistan: 2019 Article IV Consultation-Press Release and Staff Report

September 3, 2021

Preview Citation

Format: Chicago

Republic of Tajikistan: 2019 Article IV Consultation-Press Release and Staff Report, (USA: International Monetary Fund, 2021) accessed December 25, 2024

Summary

Reported economic activity has been strong in 2018-19 and inflation has picked up. The monetary framework is being strengthened. The external position has deteriorated. The fiscal deficit has widened as revenues have declined. Reforms to place the loss-making energy sector on a sound financial footing are underway. The authorities’ development strategy relies on large infrastructure projects— Roghun dam and other large SOE-implemented projects — that need sizable external financing. The financial sector is recovering from the 2015-16 crisis, with a decline in nonperforming loans and improved profitability. The authorities are making efforts to strengthen bank supervision and regulation. However, two formerly-systemic banks remain insolvent and further reforms are needed to restore public confidence in banks.

Subject: Exchange rate flexibility, Exchange rates, External debt, Foreign exchange, International organization, Monetary policy, Public debt

Keywords: A. exchange rate Policy, Bank governance, Central Asia, Debt recording, Debt vulnerability, Depositor confidence, Dynamics equation, Exchange rate flexibility, Exchange rates, Global, Medium debt-carrying capacity, NBT reform action plan

Publication Details

Pages:

82
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2021/200
Stock No:

1TJKEA2021006
ISBN:

9781513595931
ISSN:

1934-7685

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