Turkmenistan : Recent Economic Developments

Author/Editor:

International Monetary Fund

Publication Date:

September 23, 1998

Electronic Access:

Free Full text (PDF file size is 5761 KB).Use the free Adobe Acrobat Reader to view this PDF file

Summary:

This paper reviews economic developments in Turkmenistan during 1994–98. Turkmenistan reduced gas exports and suffered a decline in real GDP of close to 40 percent during 1993–95. At the same time, it stepped up foreign borrowing and constrained imports by limiting access to foreign exchange to sustain gross international reserves at the equivalent of 6–9 months of imports. The distortions associated with the perpetuation of central controls, coupled with an accommodating monetary policy, led to financial instability, raising annual average inflation rates to close to 1,500 percent during 1993–95.

Series:

Country Report No. 98/81

Subject:

English

Publication Date:

September 23, 1998

ISBN/ISSN:

9781451837230/1934-7685

Stock No:

1TKMEA0011998

Price:

$15.00 (Academic Rate:$15.00)

Format:

Paper

Pages:

122

Please address any questions about this title to publications@imf.org