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Tuesday, November 21, 2017

EDB, Tajik authorities discuss ACF financial credit

The Eurasian Development Bank, the resources manager of the Anti-Crisis Fund (ACF), recently met with Tajik authorities to prepare a mid-term economic reform program.

EDB experts visited Dushanbe, Tajikistan, on April 14-18 to hold consultations with Tajik officials about reform and the country's current economic situation. The EDB team met with the heads and technical experts of the country's Ministry of Finance, the National Bank of Tajikistan and multiple international financial institutions.

Despite high growth in gross domestic product and per capita income, Tajikistan remains vulnerable to external shocks, such as the forecasted slowdown of Russia's economic growth. The volatility of world cotton and aluminum prices also pose a risk to Tajikistan's economy.

The ECB and Tajik authorities decided on the main areas of mid-term reforms, including the maintenance of macroeconomic stability, the improvement of public finance management and the advancement of the financial sector. They agreed to continue to negotiate specific reform programs on a continuous basis to prepare a draft reform program to be submitted to the ACF Council for consideration in the second half of 2014.

The ACF is an $8.513 billion fund meant to assist member countries to overcome the consequences of the global financial crisis.