DUSHANBE. June 11. “Asia-Plus” — The Executive Board of the International Monetary Fund (IMF) has approved Tajikistan’s request on the increase in the total volume of funds allocated for the IMF’s three-year Expanded Credit Mechanism program, IMF Office in Dushanbe told the AP.
The Board has approved the request submitted by the government of Tajikistan on the increase in the total volume of funds allocated under the given program in 2009-2011 from $114,5m up to $152,6m, the source reported.
IMF said “the increase in funding is justified due to the low level of international reserves of Tajikistan and internal and external vulnerability of the republic. This step, however, will not affect the material part of the country’s debt.”
Additionally, IMF’s Executive Board provided an exemption from liabilities for failure to fulfill one of the program’s criteria by late December 2009 on combined change of clear internal assets of the National Bank of Tajikistan and one program’s criterion linked with overdue payment and salary, the source has said.
