Moody’s Investors Service Analytics’ visit to the National Bank of Tajikistan

A working meeting with representatives of the International Rating Company - Moody’s Investors Service was held under chairmanship of Mr. Hamidullo Mashrabzoda, Deputy Chairman of the National Bank of Tajikistan on October 29, 2018. The Moody’s Investors Service delegation was led by Jing Fang, Executive Director of the Asian Independent Rating Group and the meeting was attended by experts of company - Vladlen Kuznetsov and Matthew Circosta also.

Having opened the meeting with salutatory address, Mr. Hamidullo Mashrabzoda, Deputy Chairman of the National Bank of Tajikistan attracted the attention of attendees to the current situation of country’s banking system, realization of reforms in this sphere, various directions of financial sector development, available possibilities for attracting investments, including tourism and other sectors of priority.

In the course of the meeting the parties have exchanged views on core macroeconomic indicators and further development of real economy, and have discussed the financial and budgetary matters and also social-economic issues for subsequent ratings.

Jing Fang and Vladlen Kuznetsov, Company representatives have expressed their views on analyses and follow up of state liabilities, reform in banking system, international reserves, inflation rate and development of the economy for realization of a rating. Further, Matthew Circosta, Moody’s Investors Service expert has made detailed presentation on Methodology of rating realization and main factors of rating, including indicators of financial stability, fiscal policy, institutional soundness (stability) and risks for participants.

The heads of key units of NBT have attended the meeting, and expressed their opinions relating presentation and specific directions of rating indicators.

The Republic of Tajikistan has established cooperation with Moody’s Investors Service since 2013 and the given Company subsequently carries out sovereignty rating of the country.

Initially Moody’s International Rating Company has assigned“В3” rating to Tajikistan (for 2013-2014) and has appraised its perspectives stably. International Moody’s Investors Service started its activities in 1909 and is known as one of the world popular rating agencies. The Company with the assistance of more than 10 000 persons carries out activities in 26 world countries, its assets makes USD 3,5 billion.

Press Division

NBT