The IMF Country Reports Series covers economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with officials of the country, is published at the option of the member.
The proposed Staff-Monitored Program (SMP) in Tajikistan includes a balanced budget objective with a view to securing the inflation goal. While public financial management has improved, there is an agreement that monitoring and corporate governance of state-owned enterprises should be enhanced. Monetary policy will aim at containing inflation by targeting reserve money while building up official foreign exchange reserves. To mitigate risks of future debt problems, the program includes a well-defined and cautious debt strategy. The authorities are taking steps to reinvigorate their cotton sector reform efforts.