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

Volume/Issue: Volume 2008 Issue 382
Publication date: December 2008
ISBN: 9781451837162
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Topics covered in this book

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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

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.