Browse
You are looking at 61 - 70 of 99,893 items
1. Tajikistan's strong economic recovery from the pandemic is facing challenges from Russia's war in Ukraine. As with other countries in the Caucasus and Central Asia, Tajikistan's economic linkages with Russia leave it vulnerable to spillover risks, with remittances from Russia historically accounting for around 30 percent of GDP.
On behalf of our Tajik authorities, we thank staff for the insightful policy dialogue, the thorough policy assessment in a challenging regional environment, and the well-written papers. The continued engagement with the Fund is a critical and highly valued contribution to the authorities' ongoing efforts to maintain economic and financial stability and to implement important structural reforms. Going forward, they are interested in further deepening this engagement and have expressed their interest in a new Fund-supported program.
1. Peru’s macroeconomic performance in the last quarter of a century has been one of the strongest in Latin America. Peru launched a strong stabilization program in the 1990s, implementing ambitious structural reforms and adopting prudent policies and strong macroeconomic policy frameworks, including an inflation targeting framework and fiscal rules, which significantly strengthened its economic fundamentals.1 Coinciding with the commodity supercycle, these reforms allowed to lower the public debt burden in half, absorb large foreign direct investment, reduce poverty by two thirds, and build large macroeconomic buffers. As a result, Peru emerged as one of the region’s fastest growing and most stable and resilient economies despite political instabilities. The economy grew at an annual rate of almost 5 percent over the last two decades prior to the COVID-19 pandemic, multiplying its size by about 2½ times, gradually making progress toward converging to the standards of living of advanced economies (see Annex I for more details). Under its credible inflation targeting framework, inflation averaged 2½ percent over the same period, the lowest level in South America. However, economic growth moderated after the end of the commodity supercycle and the emergence of several large natural disasters.