Tajik government intends to stop official advertising campaign on Roghun’s construction
We have been
greatly encouraged by Tajik government’s commitments to stop an official
advertising campaign on Roghun’s construction, Mr.
Axel Schimmelpfennig, the head of the International
Monetary Fund (IMF) team, remarked at a news conference in
According to him, they welcome the government's commitments to strong governance in the context of the Roghun project, including having external audits of the Roghun OJSC and providing regular reports to the public on the use of funds. The IMF welcomes the government's cooperation with the World Bank on the Roghun project, and in particular the ongoing techno-economic, social and environmental impact assessments, he added.
Mr. Schimmelpfennig noted that the Roghun
fundraising campaign had a negative impact on macroeconomic and social
indicators of the country. According to him, funds collected for the
construction of the Roghun in recent months amounted
to 3 percent of
He added that
For 2010, the government targets a modest widening of the overall fiscal deficit excluding externally financed investment to 1 percent of GDP in 2010, from 0.5 percent of GDP in 2009. This will allow further increases in social expenditures, including on health and education, while also moving forward with the government's public investment program. The government should seize opportunities to further increase social spending while adhering to its deficit target.
press release issued by the IMF Dushanbe Office, the IMF team, led by Mr. Axel Schimmelpfennig, visited Dushanbe April 7-13, 2010 to
continue discussions for the combined first and second reviews under a
three-year, SDR 78.3 million (about US$116 million) Extended Credit Facility
arrangement with Tajikistan. The IMF mission reached a staff-level
agreement with the Tajik authorities on their 2010 program. This
agreement requires approval by the IMF's Executive
Board which is expected to consider