The International Monetary Fund would be sending a mission to Tajikistan to help the small mountain country to cope with the falling Russian Rouble causing its economy to almost collapse.
Tajikistan, the former Soviet Union’s ill-fated country, continues to suffer economically due to migrant workers’ remittances falling in value as the Russian Rouble continues to spiral due to the international communities’ sanctions against the country.
Tajikistan’s GDP had fallen sharply along with export prices.
According to IMF Central Asia and Middle East Department Director Masood Ahmed, a Fund delegation would visit the country to help it ‘reach an agreement on a programme.”
The former Soviet Union countries in Central Asia are the ones most affected by Russia’s sanctions due to its actions in annexing Crimea illegally.
Commodity prices have remained low due to consistent production by local Tajikistan manufacturers.
Azerbaijan, the region’s middle economy, is predicted to contract by 3 per cent, which is the weakest in the region since the 90s. Meanwhile, the largest Central Asian economy Kazakhstan may grow at about 0.1 per cent for 2016.
Tajikistan’s currency continues to weaken with its banking sector assets in 2014 at 30 per cent by the end of the previous year.