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Republic of Tajikistan: 2019 Article IV Consultation-Press Release and Staff Report
Author:
International Monetary Fund. Middle East and Central Asia Dept.
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Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2021: Issue 200
Language:
English
Publication Date:
03 Sep 2021
DOI:
https://doi.org/10.5089/9781513595931.002
ISBN:
9781513595931
ISSN:
1934-7685
Pages:
82
Keywords:
debt vulnerability; medium debt-carrying capacity; bank governance; NBT reform action plan; depositor confidence; A. exchange rate Policy; dynamics equation; debt recording; Exchange rate flexibility; Exchange rates; Global; Central Asia
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Reported economic activity has been strong in 2018-19 and inflation has picked up. The monetary framework is being strengthened. The external position has deteriorated. The fiscal deficit has widened as revenues have declined. Reforms to place the loss-making energy sector on a sound financial footing are underway. The authorities’ development strategy relies on large infrastructure projects— Roghun dam and other large SOE-implemented projects — that need sizable external financing. The financial sector is recovering from the 2015-16 crisis, with a decline in nonperforming loans and improved profitability. The authorities are making efforts to strengthen bank supervision and regulation. However, two formerly-systemic banks remain insolvent and further reforms are needed to restore public confidence in banks.
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Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund