IMF to Assist Turkmenistan in Budget Reforms

IMF to Assist Turkmenistan in Budget Reforms
International Monetary Fund Headquarters, Washington, D.C.

The International Monetary Fund (IMF) will provide technical assistance to Turkmenistan for budget reforms and the revision of the tax system to make the country’s natural resources more useful to the people and the national economy, Jihad Azur, Director of the IMF Middle East and Central Asia Department announced during online talks with Turkmen Government officials last Friday within the Annual Meetings of the IMF and the World Bank.

The meeting was attended by Minister of Finance and Economy of Turkmenistan Muhammetgeldi Serdarov and Deputy Chairman of the Central Bank Merdan Palvanov, the Turkmen Ministry of Finance and Economy said in its press release.

The meeting focused on exchange of views on Turkmenistan's economic growth forecasts, priority areas of economic and financial policy of the country, as well as the vectors of cooperation with the IMF.

The sides stressed the importance of the IMF technical assistance and readiness of the country to cooperate in relevant areas.

Minister Muhammetgeldi Serdarov expressed gratitude for technical assistance in state budget management. He briefed the meeting participants on the economic situation in Turkmenistan.

Merdan Palvanov expressed hope for further cooperation on technical assistance in improving the system of national settlements, regulation of monetary policy and calculation of macroeconomic indicators in accordance with international standards.

The IMF official Chad Steinberg said the organization will continue the work on the collection of information and analysis of the national economy. He also assured that in case of the impact of the current difficult economic situation in the world on the economy of Turkmenistan, the IMF would provide appropriate support.

Established in 1944, the IMF consists of 190 member countries. The IMF is a partner of Turkmenistan in economic reforms and provides technical assistance to support ongoing macroeconomic reforms.

Send us news