DUSHANBE, Tajikistan, April 18. The Government of Tajikistan and the International Monetary Fund (IMF) took a good hard look at the results of the IMF mission during the Article IV consultations and the second round of the Policy Coordination Instrument (PCI) program, Trend reports via the National Bank of Tajikistan.
During the meeting, Tajikistan's First Deputy Prime Minister Hokim Kholikzoda emphasized that PCI is being implemented in line with the agreed roadmap. Most quantitative targets and reform benchmarks under the second review have been met, reflecting the government's commitment to economic stability and reform.
He noted that the country’s economy is on the upswing, and the monetary policy has done a bang-up job of keeping inflation in check, well within the target range. However, he also highlighted that future economic outcomes depend on external factors, particularly the economic situation in Tajikistan’s main trading partners.
Participants from key ministries and institutions also shared their views and proposals on deepening cooperation under the PCI. Holikzoda concluded by stressing the government's full commitment to the program, underlining its importance for attracting additional funding for social and infrastructure priorities. He expressed readiness for continued dialogue with the IMF to ensure successful implementation of the program.
In turn, head of the IMF mission in Tajikistan Matthew Gartner noted positive trends in the country's economic indicators and reaffirmed the IMF’s readiness to support the government in implementing necessary reforms.
Tajikistan’s 22-month PCI program was approved in February 2024. The PCI is a non-financial instrument designed to support countries in implementing sound economic policies and reforms. It aims to strengthen fiscal sustainability, improve monetary and exchange rate policies, enhance the financial sector, and promote sustainable and inclusive growth. The program also serves as a framework to build credibility with international partners and potentially unlock additional development financing. The first review under the PCI was conducted on December 12, 2024.
The IMF delegation executed consultations pursuant to Article IV of the IMF’s Articles of Agreement — a systematic evaluation of member states’ economic vitality and policy recommendations — from April 2 to April 15.
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