IMF Staff Country Reports

Republic of Tajikistan: 2025 Article IV Consultation and Second Review under the Policy Coordination Instrument and Request for Modification of a Reform Target-Press Release; Staff Report; and Statement by the Executive Director for Republic of Tajikistan

July 8, 2025

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Format: Chicago

International Monetary Fund. Middle East and Central Asia Dept. "Republic of Tajikistan: 2025 Article IV Consultation and Second Review under the Policy Coordination Instrument and Request for Modification of a Reform Target-Press Release; Staff Report; and Statement by the Executive Director for Republic of Tajikistan", IMF Staff Country Reports 2025, 169 (2025), accessed July 30, 2025, https://doi.org/10.5089/9798229014892.002

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Summary

Strong broad-based growth has continued into 2025, alongside an improved public debt trajectory, as financial inflows have helped boost domestic demand and contributed to a favorable external position. The medium-term outlook remains positive, but subject to geopolitical risks that could result in a less favorable external environment. Tajikistan’s favorable economic performance creates an opportunity to deepen reforms to address structural vulnerabilities and support domestic job creation.

Subject: Debt sustainability, Debt sustainability analysis, External debt, Public debt

Keywords: Central Asia, Central Asia and the Caucasus, Debt sustainability, Debt sustainability analysis, FX market functioning, Global, Government securities auction, Market condition, NBT Law, Remittance inflow

Publication Details

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