IMF praises Tajikistan’s economic progress, calls for broader reforms

According to the IMF, Tajikistan’s economy has maintained strong growth in 2025, supported by low inflation, a stable external position, and reduced public debt. Inflation was contained at 3.6 percent as of April, and foreign exchange reserves now cover around seven months of imports. Public debt dropped to 25 percent of GDP by the end of 2024, thanks to careful fiscal management.

The IMF noted that most of the program’s reform and policy targets were met, with only one quantitative target falling short. The ongoing PCI program, launched in February 2024, is designed to support macroeconomic stability and structural reforms aimed at promoting inclusive and resilient growth.

Deputy Managing Director Kenji Okamura said Tajikistan is making steady progress but warned that the regional economic environment remains uncertain. He stressed the importance of continuing efforts to boost revenue collection, improve public spending efficiency, and manage growing credit levels linked to large financial inflows.

The IMF also called for broader governance and transparency reforms, especially in state-owned enterprises and the energy sector. While recent steps have been taken to strengthen oversight, the Fund said more work is needed to cut financial losses in the electricity system and improve extractive sector transparency.

Given the robust macroeconomic projections, the IMF identifies this juncture as pivotal for Tajikistan to intensify reformative measures that may mitigate structural fragilities and catalyze employment generation. The entity advocated for the administration to persist in prioritizing frameworks that bolster private-sector advancement and sustainable equilibrium.

Earlier it was reported that Tajikistan and China plan to establish joint working group on AI.