Turkmenistan: Recent Economic Developments

July 25, 1997

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Turkmenistan: Recent Economic Developments, (USA: International Monetary Fund, 1997) accessed September 19, 2024

Summary

This paper reviews economic developments in Turkmenistan during 1994–97. To address the growing economic difficulties, the government announced an economic reform package for 1996, which aimed at achieving a recovery in output, sharply lowering inflation, maintaining a strong reserve position, and promoting private sector development. The reform package had mixed success. Monetary and credit policy was generally restrained until late 1996, contributing to a moderation in inflation. However, economy-wide public sector wages were doubled in October, against a background of continued payment difficulties in the gas sector and a decline in GDP.

Subject: Agricultural commodities, Arrears, Commodities, Credit, Exports, External debt, Foreign exchange, International trade, Money

Keywords: Agricultural commodities, Arrears, Central Asia, Commercial bank, CR, Credit, Debt service, Exchange rate, Exports, Foreign exchange, Gas export, ISCR, Monetary policy, Private sector, U.S. dollar

Publication Details

Pages:

134
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 1997/058
Stock No:

1TKMEA0011997
ISBN:

9781451837223
ISSN:

1934-7685

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