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

International Monetary Fund

No 2021/200, IMF Staff Country Reports from International Monetary Fund

Abstract: 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.

Keywords: debt vulnerability; medium debt-carrying capacity; bank governance; NBT reform action plan; depositor confidence; A. exchange rate Policy; dynamics equation; debt recording; Exchange rate flexibility; Exchange rates; Global; Central Asia (search for similar items in EconPapers)
Pages: 82
Date: 2021-09-03
New Economics Papers: this item is included in nep-cis and nep-mac
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