DUSHANBE, February 1, Asia-Plus - Tajikistan’s economic results over the last years were discussed at a meeting of President Emomali Rahmonov with David Owen, Senior Adviser, Department for Middle and Central Asia, International Monetary Fund (IMF), and Carlos Pinerua, the head of the IMF mission to Tajikistan.  

Speaking to journalists after the meeting with President Rahmonov, Owen said that dynamic of a sustainable economic growth has been to be observed in Tajikistan over the last five years.   “Last year, another stage of cooperation between Tajikistan and the IMF on reduction of poverty and facilitating economic growth in the country concluded,” said Owen, “Since that time, the IMF loans have not come to Tajikistan; however, an economic growth has been to be observed in the country.” 

According to the IMF official, relations between Tajikistan and the IMF have entered a new stage and further economic growth may be provided without financial support of the Fund.  “We also discussed the future of our relations,” said Owen, “New programs will be implemented in Tajikistan but they will be implemented without our credit resources.”  

He added that they had discussed with Tajik economic team also infrastructure projects that are being implemented with participation of foreign loans.

“The only issue on which we could not reach an agreement is Tajikistan’s external debt,” Owen noted.  

Head of the IMF mission to Tajikistan Carlos Pinerua noted that the question was of new foreign borrowings that may double Tajikistan’s external debt in the coming three years.  “The Tajik side proposes to use the new loans for development of hydropower and construction of roads,” said Pinerua, “Of course, it is for the weal of the country but there is risk.” 

He noted that along with drumming up loans it is also necessary to reform this sector. “It is necessary to weigh the possible consequences,” said Pinerua, “I believe after coordination with our leadership in Washington this issue will be settled positively.”