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Abstract
Klakow Akepanidtaworn, Gareth Anderson, Dalmacio R Benicio, and Joyce C. Wong prepared this chapter, and Oluremi Akin-Olugbade provided research assistance.
Abstract
Jeta Menkulasi, Sergejs Saksonovs, and Ling Zhu prepared this chapter, and Tucker Stone provided research assistance.
Abstract
Prepared by Giovanni Ugazio, Maria Atamanchuk, and Max Appendino, with research assistance from Kate Nguyen.
Tajikistan was hit by severe external shocks in 2009. The government plans to address the structural energy deficit and achieve energy independence. Tajikistan should proceed with care on the Roghun project, paying close attention to social, macroeconomic, and debt sustainability. The need is to strike a careful balance between social and capital spending, which are complementary for growth. Macroeconomic policies are appropriate, but the weakened health of the banking sector and of state-owned enterprises needs to be addressed urgently.