IMF Regional Meeting Discusses Post-Pandemic Economic Recovery

BUSINESS TURKMENISTAN
IMF Regional Meeting Discusses Post-Pandemic Economic Recovery
The top priorities remain to provide leading industries with sufficient resources and to ensure that support programs are properly targeted.

Turkmenistan pays special attention to cooperation with international organizations, financial institutions and different countries in the fight against the COVID-19 pandemic and to mitigate its socio-economic and humanitarian impact.

According to the TDH news agency’s Friday report, the officials from Ministry of Finance and Economy of Turkmenistan attended a videoconference meeting between representatives of the Caucasus and Central Asia and the International Monetary Fund (IMF). The meeting addressed the issue of attracting private funding to support the economic recovery after the pandemic.

The meeting participants noted that the current crisis has had a negative impact on the development of the region and governments have adopted specific economic policy responses to protect vulnerable populations and industries. The officials exchanged views on the importance of maintaining the investment capacity of countries for priority spending.

Noting the relevance of reforms aimed at developing private sources of financing in support of economic recovery, the meeting participants spoke in favor of further strengthening cooperation.

In addition, the Ministry of Finance and Economy attended the IMF's online presentation on its Regional Economic Outlook: Middle East and Central Asia.

The top priorities, the IMF representatives noted, remain to provide leading industries with sufficient resources and to ensure that support programs are properly targeted.

It was emphasized that in the near future, decisive action is needed to preserve jobs, provide liquidity to companies and households, protect the poor, and create a carefully crafted action plan for economic recovery.