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Tajikistan: IMF Sees Need For Economic Transparency

Dushanbe, 25 June 1997 (RFE/RL) - Tajikistan's representative on the Board of the International Monetary Fund (IMF), Daniel Kaeser, says the country must adopt a budget and economic policies that are transparent and equal for all.

Kaeser, a Swiss official who represents a constituency of seven countries on the IMF board, including Tajikistan, commented Monday after meeting Tajik President Emomali Rahmonov.

Kaeser said that for any chance to restore the economy ravaged by four years of civil war, economic policy must be played on clear rules and not on discretionary measures.

With the peace agreement to be signed Friday, Kaeser said the IMF will need to reevaluate the country's economic situation. The fund loaned Tajikistan about $22 million in May, 1996, but would require a full reform program to qualify for further credits.

The World Bank says inflation has been rampant in Tajikistan for years and the government Statistics Agency says Dushanbe printed three times more rubles in the first four months of this year than last year. The Tajik ruble's value has dropped by half since April, the budget deficit has ballooned, and industrial production continues to fall.