The NBT states that it fulfills the conditions of IMF

24/08/2016 09:32
Asia-Plus
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The national Bank of Tajikistan claims to have fulfilled most of the conditions that International monetary Fund put before NBT.

As stated on the official website of the national Bank, on 22nd of August took place a working meeting between the IMF delegation and the National Bank, where they have discussed the possibility of creating a new three-year cooperation program with the Fund.

The report notes that the leadership of the National Bank introduced the IMF mission to the macroeconomic situation in Tajikistan and the situation in the banking system of the country. Also, the national Bank made a detailed report regarding compliance of the IMF.

"During the meeting they discussed the project of the Extended credit facility (ECF) of the IMF in Tajikistan, the need of assistance, strengthen bilateral cooperation. In particular, it was stressed that most of the IMF conditions have been already carried out by the national Bank", - stated in the message.

Recall that in the course of the reporting press conference the first Deputy Chairman of the National Bank of Tajikistan Jamoliddin Nuraliev said that Tajikistan is negotiating with the International monetary Fund to attract credit resources of 500 million dollars to support its own economy. "Negotiations are ongoing," he said. - It all depends on the negotiation process and package conditions. If they satisfy us, it will be the subject of negotiations."

According to him, earlier was announced the necessary sum to support the economy in the amount of $ 500 million. "We need financial resources, so that for the economy of the Republic would be available credit resources and to prevent stagnation in its development," he said.

Nuraliev said that "the economy is going through a difficult period – there is a decline in oil prices, reduced remittances, persists a negative balance in foreign trade turnover.

Then he said that the leadership of the NBT in August expects the visit of the IMF mission to continue the negotiation process. "It all depends not only on Tajikistan, but also on the IMF and quotas for granting the tranche from the Fund," - said Nuraliev.

Financial Times with the reference to the Director of the Department of Middle East and Central Asia of the IMF Masud Ahmed reported that Tajikistan will have to take a number of conditions to be eligible for a loan from the Fund.

In particular, said Ahmed, the Republic authorities will need to strengthen banking supervision, monetary control and increase the transparency of state enterprises.

He expressed hope that Tajik authorities will be prepared to address these problems.

 

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