IMF Staff Country Reports

Republic of Tajikistan: First Review Under the Policy Coordination Instrument and Request for Modification of a Quantitative Target and a Reform Target-Press Release and Staff Report

January 6, 2025

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Format: Chicago

International Monetary Fund. Middle East and Central Asia Dept. "Republic of Tajikistan: First Review Under the Policy Coordination Instrument and Request for Modification of a Quantitative Target and a Reform Target-Press Release and Staff Report", IMF Staff Country Reports 2025, 002 (2025), accessed January 7, 2025, https://doi.org/10.5089/9798400296826.002

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Summary

Tajikistan has continued to navigate the challenging external environment well. Real GDP rose 8.4 percent during January-September 2024, while inflation remained well-contained at 3.1 percent (y/y) in September. Robust remittances have boosted the external position, with FX reserves at more than 7 months’ import coverage, while prudent fiscal implementation has anchored a continued reduction in public debt. The banking sector remains stable amid steady growth in credit aggregates. Geopolitical fragmentation and regional tensions create uncertainty over the medium-term outlook.

Subject: Commodities, Credit, Electricity, Expenditure, External debt, Fiscal risks, Foreign exchange, Government debt management, Monetary base, Money, Public debt, Public financial management (PFM)

Keywords: Credit, Electricity, Fiscal risks, Government debt management, International reserves, Monetary base, Revenue administration

Publication Details

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