DUSHANBE, April 29, Asia-Plus — Issues related to cooperation between Tajikistan and the International Monetary Fund (IMF) were discussed at a meeting of President Emomali Rahmon with Mr. Thomas Moser, Executive Director at the IMF, representing a number of transition countries, that was held in Dushanbe on April 28.
Speaking to reporters after a meeting with the Tajik head of state, Mr. Moser said that President Rahmon had expressed hope for cooperation both the IMF and other international financial institutions.
According to him, in the course of the talks they touched upon a number of uneasy issues. “However, we are nearing solution of them,” said the IMF executive director. “I said that the Fund will continue helping Tajikistan tackle problems.”
Mr. Moser noted that the IMF mission is currently working in Tajikistan to study the situation connected with inaccurate financial information provided by Tajik authorities.
“I hope that independent audit and a number of other activities will allow restoring confidence between us,” the IMF official said, adding that the Tajik government is also taking steps in that direction.
Asked about the upcoming rise in electricity prices, Mr. Moser said that he does not have such information because the World Bank is engaged in reforming the energy sector in Tajikistan.
We will recall that on March 5, 2008, the IMF’s executive board reprimanded Tajikistan for violating the terms of its poverty reduction agreement with the body. The IMF accused Tajikistan of engaging in several questionable disbursements of funds in 2004-2005 and breaching its obligations. The IMF demanded that Tajikistan pay back almost $48 million in aid by early 2009; the aid was reportedly based on inaccurate financial information provided by Tajik authorities.
The National Bank of Tajikistan (NBT) has admitted giving the Fund false information to pick up more loans. The bank defended the move, saying it needed the loans to fund agriculture.
