DUSHANBE, January 11, 2012, Asia-Plus — The International Monetary Fund (IMF) will continue providing financial support to Tajikistan in the framework of a new program that is planned to be launched in April this year.
IMF Resident Representative in Tajikistan, Mr. Ari Aisen, told a news conference on January 11 that the IMF representatives have conducted negotiations with Tajik officials regarding the new program.
According to him, forms of providing assistance to the country will be discussed during the visit of the IMF mission to Tajikistan in February this year.
Mr. Aisen noted that the IMF Executive Board recently completed its fifth review of Tajikistan’s economic performance under a program supported by the Extended Credit Facility (ECF) arrangement
The decision enables the authorities to draw an amount equivalent to US$20.1 million, bringing total disbursements under the arrangement to an amount equivalent to US$140.9 million.
The three-year US$116 million ECF arrangement with Tajikistan was originally approved by the IMF’s Executive Board on April 21, 2009 and subsequently augmented on June 7, 2010.
The IMF resident representative noted that the last sixth review of Tajikistan’s economic performance would be completed in April.
The loan that will repayable over ten years with a five-year grace period will carry a zero interest rate, Mr. Aisen noted. These funds are provided to the country to support the National Bank of Tajikistan (NBT)”s efforts to ensure an adequate level of foreign exchange reserves, the IMF resident representative stressed.
He also noted the IMF had reviewed its initial macroeconomic forecasts for Tajikistan for this year. “New forecasts will be announced in February during the visit of the IMF mission to Tajikistan,” said Mr. Aisen.
