Rethinking development finance in Tajikistan: Toward more sustainable and inclusive fiscal pathways

Jovid Ikromi

No wp-2025-37, WIDER Working Paper Series from World Institute for Development Economic Research (UNU-WIDER)

Abstract: This paper rethinks development finance in Tajikistan through the lens of fiscal sociology, arguing that sustained reliance on foreign aid and external borrowing may weaken state-society trust and erode institutional legitimacy. Anchored in the political economy of development finance, the paper explores how alternative financing strategies, such as tax reform, diaspora bonds, thematic bonds, and blended finance, interact with domestic institutions, investor confidence, and citizen perceptions of fiscal fairness.

Keywords: Tajikistan; Development finance; Debt sustainability; domestic resource mobilization; Climate change (search for similar items in EconPapers)
Date: 2025
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