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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

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  • International Monetary Fund

Abstract

This paper presents Tajikistan’s 2025 Article IV Consultation and Second Review under the Policy Coordination Instrument (PCI). Tajikistan’s strong growth performance has continued into 2025, accompanied by well contained inflation, a favorable external position and a further reduction in public debt to gross domestic product. Tajikistan’s favorable economic performance creates an opportunity to implement needed reforms to address structural vulnerabilities and support domestic job creation. The authorities’ economic program under the PCI focuses on policies to anchor macroeconomic stability and strengthen resilience against shocks while advancing governance reforms to foster more diversified and inclusive growth. Broad-based governance and transparency reforms are key to strengthening the business climate to foster more diversified private sector-led growth. The Second Review under the PCI with Tajikistan was completed, with all but one of the quantitative targets for the second review met and the reform targets broadly implemented.

Suggested Citation

  • International Monetary Fund, 2025. "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 Tajik," IMF Staff Country Reports 2025/169, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2025/169
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