Republic of Tajikistan: First Assessment Under the 2008 Staff-Monitored Program

Author: International Monetary Fund

Volume/Issue: Volume 2008 Issue 382

Publication date: December 2008

ISBN: 9781451837162

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Banks and Banking , Money and Monetary Policy , Public Finance , ISCR , CR , net , enterprise , NBT , government , bank , debt relief , court authorization , net credit , assets of the NBT , reform priority , country classification , economic statistics , aluminum smelter , Project loans , Monetary base , Infrastructure , Global , Central Asia , South Asia

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Summary

This paper on the First Assessment Under the 2008 Staff-Monitored Program (SMP) for the Republic of Tajikistan discusses the ongoing global financial crisis. The main purpose of the SMP is to allow the authorities to reestablish their credibility after a serious episode of misreporting to the IMF. Revenue collection was stronger than projected, mostly reflecting high nominal growth and imports. Monetary and exchange rate policies will have to focus on maintaining external stability. Moreover, a possible sharp depreciation of main trading partners’ currencies may require further exchange rate adjustment.