Baku, Azerbaijan, July 25
Trend:
The leadership of the National Bank of Tajikistan expects the resumption of concessional lending to the country from the International Monetary Fund in the second half of this year, Asia-Plus reported.
"Almost all the preconditions set by the Fund for obtaining a preferential loan under the new program entitled as "Extended credit mechanism" have been fulfilled," First Deputy Chairman of the NBT Jamoliddin Nuraliev said at a press conference in Dushanbe on July 25.
He noted that, a working group was created in July last year from among the employees of the relevant ministries and departments, which were engaged in the implementation of the IMF preconditions.
Nuraliev stressed that, almost all conditions have been met to date, in particular, new legislative acts in the banking sector, the strategy of the Ministry of Finance's fiscal policy have been adopted and other measures have been taken.
He added that, a regular mission of the IMF will arrive in Tajikistan in September of this year, and it is expected to reach specific agreements on a new program of support for Tajikistan from the Fund during this visit.
The new program is planned to focus on supporting of the economic strategy of the Republic of Tajikistan, achieving of macroeconomic and financial stability and sustainability along with economic growth and poverty reduction, as well as maintaining of the balance of payments and sustainability of the country's international reserves.
The negotiations on granting a preferential loan to Tajikistan under the new IMF program have been going on for several years.
The previous three-year program, under which the IMF provided Tajikistan with a soft loan worth more than $160 million, was completed in July 2012.
The negotiations of the official delegation of Tajikistan with the IMF on the development of a new program under the above mechanism began in October 2015.
Tajikistan intended to attract a soft loan of $ 500 million under the new program.
The representatives of the Fund said at the end of the IMF mission to Tajikistan in May this year, the Tajik authorities were seeking to discuss a possible program to support the country.
It was noted in the final statement that, the negotiations on the new program could begin in the coming months, after "careful preparation of both parties, the authorities of Tajikistan and the IMF staff."
"They (the authorities of Tajikistan) have already taken steps to demonstrate the progress of reforms in order to pave the way for negotiations on the program," the statement says.