DUSHANBE, November 3, Asia-Plus — The International Monetary Fund (IMF) is concerned about the rate of inflation in Tajikistan, the head of the IMF mission to Tajikistan, Carlos Pinerua, remarked at a news conference in Dushanbe on Thursday afternoon.
According to him, an economic growth has been provided mainly due to demands for services. “We agree with arguments of the Tajik government that rise in the inflation rate in the country is connected with external factors,” Pinerua said, noting that that there is possibility that inflation will continue rising and exceed the anticipated rate of 7 percent.
The IMF mission head noted that next year, the increase in inflation will be caused mainly by rising prices of Uzbek natural gas, and “there ought not to direct attention towards considerable decline in its rate.”
“In the coming years, the rate of inflation in Tajikistan will remain high due to considerable investments in the projects being implemented in the country and remittances of labor migrants, working outside Tajikistan,” said Pinerua, “Next year, Tajikistan will implement a number of projects requiring considerable investments.”
The IMF mission head also noted that a 10 percent increase in production of aluminum had been reported in Tajikistan this year. “This branch is currently playing an important role in the country’s gross domestic product (GDP), but in the course of the time an influence of this branch on rates of economic growth will decline and production of services will increase.”
During its stay (from October 20 to November 3) in Tajikistan the IMF mission held meetings with Tajik authorities to discuss programs of cooperation between Tajikistan and the Fund, including the program for supporting poverty reduction and economic growth, which envisions the allocation of US$50 million over the next three years.
Pinerua also noted that remittances of labor migrants, working outside the republic, had played an important role in reduction of poverty in Tajikistan.
The present debt of Tajikistan to the International Monetary Fund has to date amounted to US$40 million.
