Islamic Republic of Afghanistan
Islamic Republic of Afghanistan

Author: International Monetary Fund. Middle East and Central Asia Dept.

Publisher: International Monetary Fund

Published: 2019-06-07

Total Pages: 83

ISBN-13: 1498318827

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This paper discusses Afghanistan’s Fifth Review under the Extended Credit Facility (ECF) Arrangement and Request for Modification of Performance Criteria. The paper highlights that in the face of many headwinds, Afghanistan’s government continues to demonstrate strong ownership of the program supported by the ECF arrangement. The economic outlook is clouded by numerous uncertainties; however, ongoing peace negotiations offer hope for a much-needed improvement in the security situation. The security situation remains strained, but the US-Taliban peace negotiations have improved prospects for a political settlement. External financing should continue to rely on grants and concessional funding. Any scaling up of externally financed public investment should be gradual and preceded by an assessment of macro-fiscal implications and strengthened debt management. Continued reforms remain key to achieving higher and more inclusive growth. Reforms in support of fiscal sustainability, institution building, anti-corruption efforts, and financial stability should continue.

Islamic Republic of Afghanistan
Islamic Republic of Afghanistan

Author: International Monetary Fund. Research Dept.

Publisher: International Monetary Fund

Published: 2016-02-11

Total Pages: 46

ISBN-13: 149830432X

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The Ex Post Assessment aims to provide a frank review of progress during the 2006 and 2011 programs, and a forward-looking assessment that takes into account lessons learned. It begins by providing the background and context for the two programs. It then discusses their overall objectives, how the programs were designed to achieve these objectives, and program performance. After outlining the key issues, it concludes with some lessons, including for Afghanistan's future engagement with the IMF. Since late 2001, after NATO forces toppled the Taliban, the country received unprecedented support from the donor community in the context of two IMF-supported programs.

The Islamic Republic of Afghanistan
The Islamic Republic of Afghanistan

Author: International Monetary Fund. Middle East and Central Asia Dept.

Publisher: International Monetary Fund

Published: 2016-07-27

Total Pages: 115

ISBN-13: 1475524714

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This paper discusses Afghanistan’s Request for a Three-Year Arrangement Under the Extended Credit Facility (ECF). The program sets out a structural reform agenda that focuses on institution building, fiscal and financial reforms, and measures to combat corruption to lay the foundations for scaled up private sector development. The envisaged reforms dovetail with Afghanistan’s National Development Framework currently being finalized. The program aims to preserve macro-financial stability by implementing prudent fiscal, monetary, and financial policies, and by maintaining external buffers and a flexible exchange rate regime. The IMF staff supports the authorities’ request for an ECF arrangement under an IMF-supported program.