IDEAS home Printed from https://ideas.repec.org/p/imf/imfscr/2025-002.html
   My bibliography  Save this paper

Republic of Tajikistan: First Review Under the Policy Coordination Instrument and Request for Modification of a Quantitative Target and a Reform Target-Press Release and Staff Report

Author

Listed:
  • International Monetary Fund

Abstract

This paper discusses Republic of Tajikistan’s First Review under the Policy Coordination Instrument (PCI) and Request for Modification of a Quantitative Target and a Reform Target. The PCI aims to anchor macroeconomic policies and support structural reform implementation to maintain macro-financial stability and foster more sustainable and inclusive growth. The fiscal deficit is projected to remain within the long-term anchor of 2.5 percent of gross domestic product, ensuring a continued decline in public debt. Policies should aim to strengthen resilience against external shocks and address structural constraints to attaining more sustainable and inclusive growth. Improving revenue mobilization and spending efficiency is critical to increasing space for development priorities. Monetary policy should remain vigilant and manage liquidity proactively in the context of large foreign exchange inflows and strong credit growth, with the exchange rate playing a greater role as a shock absorber. Pressing ahead with broad-based state-owned enterprise reforms is critical to mitigate fiscal risks and create space for private sector led growth.

Suggested Citation

  • International Monetary Fund, 2025. "Republic of Tajikistan: First Review Under the Policy Coordination Instrument and Request for Modification of a Quantitative Target and a Reform Target-Press Release and Staff Report," IMF Staff Country Reports 2025/002, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2025/002
    as

    Download full text from publisher

    File URL: http://www.imf.org/external/pubs/cat/longres.aspx?sk=560554
    Download Restriction: no
    ---><---

    More about this item

    Keywords

    NBT regulation; asset declaration regime; procurement authorities; NBT Law; government approval; Government debt management; Fiscal risks; Monetary base; Global; Central Asia;
    All these keywords.

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:imf:imfscr:2025/002. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Akshay Modi (email available below). General contact details of provider: https://edirc.repec.org/data/imfffus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.