Download or read book Republic of Tajikistan 2021 Article IV Consultation Press Release Staff Report and Statement by Executive Director for the Republic of Tajikistan written by International Monetary and published by International Monetary Fund. This book was released on 2022-02-18 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt: With a strong recovery in train, the authorities are gradually withdrawing the policy stimulus released during the pandemic. Although debt is sustainable, there is a high risk of debt distress. At the same time, financing the Roghun dam project while implementing tax reform remains a key challenge. The financial sector has stabilized, but intermediation remains low. Risks to the outlook are tilted to the downside due to uncertainty on the pandemic and regional spillovers.
Download or read book Republic of Tajikistan written by International Monetary Fund. Middle East and Central Asia Dept. and published by International Monetary Fund. This book was released on 2023-03-28 with total page 101 pages. Available in PDF, EPUB and Kindle. Book excerpt: Strong growth continued in 2022 with minimal disruption from the war in Ukraine, while strong financial inflows supported domestic demand and liquidity. Although negative spillovers from the war have not materialized, it remains unclear to what extent Tajikistan will continue to be relatively unaffected by weaker economic activity in Russia.
Download or read book Republic of Tajikistan written by International Monetary Fund and published by International Monetary Fund. This book was released on 2005-04-15 with total page 99 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines Tajikistan’s 2004 Article IV Consultation and Fourth Review Under the Poverty Reduction and Growth Facility. Strengthened fiscal discipline and tighter monetary policy have reduced inflation from 40 percent in 2001 to 5.6 percent in 2004. Strong growth in tax revenues and continued expenditure restraint contributed to small fiscal surpluses during the past two years. Nonetheless, progress in a number of priority reform areas envisaged in the Poverty Reduction Strategy Paper has been slow. In particular, the business environment and public and private sector transparency and governance need to be strengthened further.
Download or read book Republic of Tajikistan 2009 Article IV Consultation Final Review under the Staff Monitored Program and Request for a Three Year Arrangement under the Poverty Reduction and Growth Facility Staff Report Staff Supplement Staff Statement Public Information Notice and Press Release on the Executive Board Discussion and Statement by the Executive Director for the Republic of Tajikistan written by International Monetary Fund Staff and published by International Monetary Fund. This book was released on 2009-07-21 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt: In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.
Download or read book Republic of Tajikistan 2019 Article IV Consultation Press Release and Staff Report written by International Monetary Fund. Middle East and Central Asia Dept. and published by INTERNATIONAL MONETARY FUND. This book was released on 2021-09-03 with total page 81 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.
Download or read book Republic of Tajikistan written by International Monetary Fund and published by International Monetary Fund. This book was released on 2004-08-10 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines Tajikistan’s Third Review of the Three-Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF), and Request for Waiver of Performance Criterion. Performance under the PRGF has been generally satisfactory. All quantitative performance criteria, two of the three structural performance criteria, and two of the three structural benchmarks were met through end-May 2004. The continuous structural performance criterion prohibiting directed credit by the National Bank of Tajikistan was not observed in May 2004, but this credit was repaid/reversed by late June, and a waiver is requested on this basis.
Download or read book Republic of Tajikistan written by International Monetary Fund. Middle East and Central Asia Dept. and published by International Monetary Fund. This book was released on 2024-04-02 with total page 104 pages. Available in PDF, EPUB and Kindle. Book excerpt: Tajikistan’s economic performance remains favorable as remittance inflows and public investment continue to support domestic demand but there is uncertainty over the outlook in the context of heightened geopolitical tensions. Public debt is sustainable but sizeable investment needs constrain fiscal space, and the risk of debt distress remains high due to upcoming Eurobond repayments. Adherence to a deficit target of 2.5 percent of GDP is essential to anchor debt sustainability, while advancing reforms to increase space for priority social and development spending. The authorities have requested a twenty-two-month arrangement under the Policy Coordination Instrument (PCI) to anchor macroeconomic policies and foster inclusive growth. Staff supports the request for the new arrangement. The Letter of Intent and Program Statement set out policies to support the program’s objectives.
Download or read book Republic of Tajikistan written by International Monetary Fund. Middle East and Central Asia Dept. and published by International Monetary Fund. This book was released on 2020-05-07 with total page 58 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper discusses Republic of Tajikistan’s Request for Disbursement Under the Rapid Credit Facility (RCF). The coronavirus disease 2019 (COVID-19) pandemic has had a severe human and economic impact in Tajikistan. Trade and transportation disruptions have led to a sharp drop in remittances and government revenues and created urgent balance of payments and fiscal financing needs. The authorities have responded with an action plan and measures to contain the pandemic. Health spending and targeted support to the most vulnerable households and sectors in the economy are the immediate priorities, and a temporary widening of the budget deficit is appropriate. The IMF’s financial assistance under the RCF is expected to provide a sizable share of the financing needed to implement the anti-crisis measures. Additional concessional and grant financing from the international community will be critical to close the remaining financing gap. Based on authorities’ fiscal consolidation plans, debt is assessed to be sustainable. The authorities have committed to enhance the transparency and governance of their COVID-19 policy response through the publication of an ex-post audit of associated spending and procurement processes. The risk of debt distress remains high, but the capacity to repay the IMF is adequate.
Download or read book Republic of Kazakhstan 2021 Article IV Consultation Press Release Staff Report Staff Statement and Statement by the Executive Director for Kazakhstan written by International Monetary and published by International Monetary Fund. This book was released on 2022-04-11 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: Activity returned to its pre-COVID level in 2021. Inflation remains well above the NBK’s 4–6 percent target band, and spillovers from sanctions on Russia will exacerbate price pressures and weaken economic growth in 2022. Kazakhstan benefits from strong fiscal and external buffers but risks to the outlook are elevated due to the uncertain impact on Kazakhstan of the sanctions on Russia and heightened domestic tensions since the January social unrest episode. In the medium term, non-oil growth under the baseline is expected to converge to about 4 percent. Sustainable growth will require greater economic diversification. Climate-related challenges are acute for Kazakhstan given its outsized hydrocarbon sector, high per-capita greenhouse gas emissions, and low domestic energy prices.
Download or read book Republic of Tajikistan written by International Monetary Fund and published by International Monetary Fund. This book was released on 2006-02-17 with total page 78 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper focuses on Tajikistan’s Sixth Review Under the Poverty Reduction and Growth Facility (PRGF). The program for 2005 has been implemented satisfactorily. All quantitative and structural performance criteria and indicative targets for end-September 2005 were observed, and all outstanding structural benchmarks for 2005 have either been completed or are in the process of implementation. In view of the authorities’ satisfactory implementation of the program during 2005, the IMF staff is recommending completion of the sixth review under the PRGF.
Download or read book Republic of Tajikistan written by Fondo Monetario Internacional and published by . This book was released on 2003 with total page 89 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Republic of Tajikistan written by International Monetary Fund and published by International Monetary Fund. This book was released on 2003-01-15 with total page 119 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper evaluates Tajikistan’s 2002 Article IV Consultation and a Request for a Three-Year Arrangement Under the Poverty Reduction and Growth Facility (PRGF). Tajikistan’s previous IMF-supported program went off track in mid-2001 largely because of poor progress with structural reform and weak management of external debt. To revitalize the reform process, the authorities satisfactorily implemented a Staff-Monitored Program that covered the first half of 2002. The IMF staff commends the authorities for the progress in economic areas realized over the past few years, and supports the authorities' request for a new three-year PRGF arrangement.
Download or read book Republic of Tajikistan 2006 Article IV Consultation Staff Report Public Information Notice on the Executive Board Discussion and Statement by the Executive Director for the Republic of Tajikistan written by International Monetary Fund and published by INTERNATIONAL MONETARY FUND. This book was released on 2007-04-27 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 2006 Article IV Consultation on the Republic of Tajikistan explains political and economic developments. Although Tajikistan's external debt profile has improved significantly, total public and publicly guaranteed debt is projected to increase significantly, mainly because of large project-related disbursements from China. Any financial resources directed to the private sector, particularly if subsidized, should be channeled through the budget in a transparent manner. Executive Directors welcomed the authorities' intention to put in place a debt management strategy that will prevent public debt from exceeding 60 percent of GDP.
Download or read book Republic of Tajikistan Staff Report for the Article IV Consultation Review Under the Annual Arrangement Under the Poverty Reduction and Growth Facility and Request for Waiver and Modification of Performance Criteria written by and published by . This book was released on 2003 with total page 128 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Republic of Tajikistan written by International Monetary Fund and published by International Monetary Fund. This book was released on 2012-02-07 with total page 64 pages. Available in PDF, EPUB and Kindle. Book excerpt: Economic activity in Tajikistan continues to recover from the global crisis, but a range of vulnerabilities remain. Real GDP grew at an estimated 7.5 percent through the first nine months of 2011. The political environment appears broadly stable, but there are underlying tensions. The worst of the food and fuel price shocks has been weathered without civil unrest, partly owing to measures to ensure supplies, higher remittances, and a general understanding by the population that remedies are limited given resource constraints.
Download or read book Republic of Uzbekistan 2022 Article IV Consultation Press Release Staff Report and Statement by the Executive Director for the Republic of Uzbekistan written by International Monetary and published by International Monetary Fund. This book was released on 2022-06-22 with total page 83 pages. Available in PDF, EPUB and Kindle. Book excerpt: Uzbekistan embarked on an ambitious reform path in 2017, starting to liberalize its economy after years of state control. Incomes are still relatively low compared to other emerging economies and the role of the state is still large. Uzbekistan weathered the pandemic relatively well. Strong fundamentals, ample policy buffers, and high gold prices allowed the authorities to take strong actions to mitigate the impact of the pandemic and growth accelerated to 7.4 percent in 2021.
Download or read book Republic of Tajikistan written by International Monetary Fund and published by International Monetary Fund. This book was released on 2003-07-23 with total page 75 pages. Available in PDF, EPUB and Kindle. Book excerpt: All of the quantitative performance criteria were observed for the period under review. The authorities recognize the numerous challenges facing their program and remain committed to its successful implementation. Given continued strong fiscal performance and the expectation of improved monetary policy implementation, the authorities are confident that they can meet all the program's targets. Discussions with the authorities centered on strengthening the National Bank of Tajikistan (NBT) by restructuring its operations and strengthening the authorities' capacity to implement structural reform.
