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

International Monetary Fund

No 2019/157, IMF Staff Country Reports from International Monetary Fund

Abstract: 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.

Keywords: ISCR; CR; government; execution; export promotion initiative; doing business ranking; government institution; development spending; executive board discussion; government priority; financing option; Budget planning and preparation; Credit; International reserves; Currencies; Global (search for similar items in EconPapers)
Pages: 83
Date: 2019-06-10
New Economics Papers: this item is included in nep-isf
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.imf.org/external/pubs/cat/longres.aspx?sk=46973 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:imf:imfscr:2019/157

Ordering information: This working paper can be ordered from
http://www.imf.org/external/pubs/pubs/ord_info.htm

Access Statistics for this paper

More papers in IMF Staff Country Reports from International Monetary Fund International Monetary Fund, Washington, DC USA. Contact information at EDIRC.
Bibliographic data for series maintained by Akshay Modi ().