Visit of the IMF mission to the NBT

The group of representatives of the IMF under the leadership of Ms. Padamja Khandelwal, Head of the IMF mission to Tajikistan with a view of continuation of discussions on development of new economic reforms program, has visited the Republic of Tajikistan.

In the framework of working visit of the IMF mission under the leadership of the Ms. Padamja Khandelwal, on March 4, 2019, the working meeting of Jamshed Nurmahmadzoda, Chairman of the NBT with Ms. Padamja Khandelwal, Head of IMF mission to RT, was held. The First Deputy Chairman of the NBT Jamoliddin Nuraliev and heads of key structural subdivisions of the NBT also have attended the meeting.

During the meeting, which was held in the atmosphere of mutual understanding, parties have discussed the issues of the country's socio-economic development in 2018, preservation of macroeconomic stability with the view of possible risks, improvement of financial situation of banking system, necessity to strengthen foundations of monetary and fiscal policy and its coordination with fiscal policy.

Chairman of the NBT, Jamshed Nurmahmadzoda during the talks with guests spoke about provision of favorable basis for improvement of co-operations in the region, priority directions of the economic policy of the country, enhancement of real sector, inflation stable level and realization of new monetary mechanisms – inflation targeting, soundness of financial, as well as plans to eliminate existing problems, rehabilitation and renewal of banking sector. Jamshed Nurmahmadzoda has expressed hopes for achievement of final consent in development of new economical reform project supported by the IMF and expressed willingness of the NBT to assist in the process of analyses on necessary areas of banking system for cooperation and representation of relevant information.

Ms. Padamja Khandelwal, Head of the IMF mission to Tajikistan, in turn, expressed her view on attainment of progress by the Republic of Tajikistan on target areas, including decrease of NPL share from debt portfolio, and in the meantime she has noted that still some appropriate steps should be taken in this direction.

All efforts will be aimed at expanding cooperation in the banking system, which is important for financial stability and economic development of the country, as well as for implementation of reforms in the field of monetary policy and implementation of the new IMF Program on economic reforms for the Republic of Tajikistan. Ms. Padamja Khandelwal also expressed view on realization of measures to decrease external debts, more attraction of foreign capital, application of modern monetary tools and development of security market.

During the meeting Jamoliddin Nuraliev, First Deputy Chairman of the NBT has expressed his view on realization of reform in banking sector and possibility of cooperation with the Ministry of Finance of the Republic of Tajikistan. It has been noted that in cooperation with the Ministry of Finance of the Republic of Tajikistan some amendments to current legislation were developed and specific measures for improvement of state finances management.

Ms. Padamja Khandelwal has stated that with the view of cooperation she will make efforts in realization of reform in the field of monetary policy and banking system sector which plays key role for financial stability of the country, as well as for assistance in realization of IMF new economic reform programme for the Republic of Tajikistan.

At the end of working meeting Mr. Jamshed Nurmahmadzoda, Chairman of the NBT extended thanks to IMF mission to Tajikistan for ongoing support, and wished fruitful activity and success in realization of imposed tasks.

It should be noted that representatives of the IMF under the leadership of Ms. Padamja Khandelwal, Head of the IMF mission to Tajikistan with the view of study of current situation of economy, including financial-banking system is on a business trip from 4th to 14th of March, 2019 in the Republic of Tajikistan, for designing new economic reform programme will hold meetings with major ministries and departments.

Press Division
NBT