DUSHANBE, February 25, 2010, Asia-Plus — In our view, some banks are having weak liquidity mainly as a result of the global financial crisis, as well as the past lending to unprofitable cotton producers, Mr. Luc Moers, Resident Representative of International Monetary Fund (IMF) in Tajikistan, said in an interview with Asia-Plus.
According to him, the National Bank of Tajikistan (NBT) can mainly support banks with liquidity financing, to cover temporary liquidity gaps.
“However, the more important support will come now when the international financial crisis seems to have bottomed out, with remittances, and aluminum, cotton, and other commodity prices rising again, and the government has started reforming the agricultural sector,” said Mr. Moers. “Therefore, banks should be able to operate more commercially in this and other sectors, and thus help both themselves and the people that want to do business with them.”
