AKIPRESS.COM - The Eurasian Fund for Stabilization and Development’s (EFSD) Council extended the availability period of the financial credit for Tajikistan from March 1, 2018 till May 15, 2018, the EDB reported.

The EFSD Council decided that the Tajik government should adopt, before May 1, 2018, a number of legislative instruments that should fix the understandings achieved with the Eurasian Development Bank, as the EFSD Resources Manager, as to minimising the risk that multiple exchange rates would persist, and agree with the Resources Manager measures to settle an overdue debt to it from a legal entity, in which the Republic of Tajikistan is a shareholder. The Council will pass its decision whether to support the reform programme of the Tajik government and the National Bank of Tajikistan with a financial credit after the Resources Manager submits its evaluation of the Tajik government’s compliance these requirements.

Out of the total of $40 million envisioned for the reform programme, the country has already disbursed one tranche of $20 million. The reform programme aims to enhance the Tajik economy’s resilience to external shocks by improving the flexibility of the foreign exchange rate and implementing prudent monetary and fiscal policies, as well as through structural reforms in the country’s fiscal, banking and power sectors.