{
  "title": "Islamic Republic of Afghanistan: Second Review Under the Staff-Monitored Program-Press Release; and Staff Report",
  "publication": "IMF Staff Country Reports, May 13, 2016",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/islamic-republic-of-afghanistan-second-review-under-the-staff-monitored-program-press-43896",
  "canonical": "https://www.imf.org/en/publications/cr/issues/2016/12/31/islamic-republic-of-afghanistan-second-review-under-the-staff-monitored-program-press-43896",
  "overlayPath": "/en/publications/cr/issues/2016/12/31/islamic-republic-of-afghanistan-second-review-under-the-staff-monitored-program-press-43896/index.md",
  "summary": "This paper discusses economic developments, outlooks, and risks in Afghanistan. The economy is in difficultly. Deepening uncertainty about the political transition following the 2014 presidential election, corruption and weak governance, and a weakening security environment have complicated the impl",
  "sections": [
    {
      "heading": "Economic context and drivers",
      "content": "- Deepening uncertainty about the political transition following the 2014 presidential election undermined confidence and economic activity.\n- Corruption and weak governance complicated implementation of reforms.\n- A weakening security environment contributed to increased emigration.\n- The financial sector remains fragile and plays a limited intermediation role."
    },
    {
      "heading": "Fiscal and external developments",
      "content": "- The overall budget had a deficit in 2015 as a shortfall in grants more than offset higher-than-projected revenue and lower spending.\n- The trade deficit remained large.\n- Substantial inflows of foreign aid kept the current account in surplus."
    },
    {
      "heading": "Risks and outlook",
      "content": "- Risks center on political uncertainty, governance weaknesses, and security deterioration, which together impede reform implementation and economic recovery.\n- Increased emigration is noted as a socio-economic consequence of the adverse environment."
    },
    {
      "heading": "Subject areas covered",
      "content": "- Anti-money laundering and combating the financing of terrorism (AML/CFT)\n- Banking\n- Budget planning and preparation\n- Crime\n- Economic and financial statistics\n- Expenditure\n- External sector statistics\n- Public financial management (PFM)\n- Revenue administration"
    },
    {
      "heading": "Keywords (as provided)",
      "content": "- Afghan authorities\n- Anti-money laundering and combating the financing of terrorism (AML/CFT)\n- Budget planning and preparation\n- Central Asia\n- CR\n- exchange rate\n- External sector statistics\n- Global\n- government\n- import coverage\n- imports of goods\n- ISCR\n- management of the International Monetary Fund\n- Middle East\n- outlook"
    },
    {
      "heading": "Publication metadata and identifiers",
      "content": "- Pages: 51\n- Volume: 2016\n- Issue: 120\n- Series: Country Report No. 2016/120\n- DOI: https://doi.org/10.5089/9781484350843.002\n- Stock No: 1AFGEA2016002\n- ISBN: 9781484350843\n- ISSN: 1934-7685\n- Publication date on page: May 13, 2016\n\nInternational Monetary Fund. Middle East and Central Asia Dept., \"Islamic Republic of Afghanistan: Second Review Under the Staff-Monitored Program-Press Release; and Staff Report\", IMF Staff Country Reports 2016, 120 (2016).\n\n---\n\n Content in this bundle\n\n- cr16120\n  - cr16120 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr16120 (PDF){rel=\"external\" type=\"application/pdf\"}"
    }
  ],
  "bullets": [
    "[Markdown version](/en/publications/cr/issues/2016/12/31/islamic-republic-of-afghanistan-second-review-under-the-staff-monitored-program-press-43896/index.md)",
    "[Structured JSON version](/en/publications/cr/issues/2016/12/31/islamic-republic-of-afghanistan-second-review-under-the-staff-monitored-program-press-43896/index.json)",
    "[Bundle manifest](/en/publications/cr/issues/2016/12/31/islamic-republic-of-afghanistan-second-review-under-the-staff-monitored-program-press-43896/bundle-manifest.json)",
    "Published: May 13, 2016",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781484350843.002",
    "Deepening uncertainty about the political transition following the 2014 presidential election undermined confidence and economic activity.",
    "Corruption and weak governance complicated implementation of reforms.",
    "A weakening security environment contributed to increased emigration.",
    "The financial sector remains fragile and plays a limited intermediation role.",
    "The overall budget had a deficit in 2015 as a shortfall in grants more than offset higher-than-projected revenue and lower spending.",
    "The trade deficit remained large.",
    "Substantial inflows of foreign aid kept the current account in surplus.",
    "Risks center on political uncertainty, governance weaknesses, and security deterioration, which together impede reform implementation and economic recovery.",
    "Increased emigration is noted as a socio-economic consequence of the adverse environment.",
    "Afghan authorities",
    "Central Asia",
    "CR",
    "exchange rate",
    "Global",
    "government",
    "import coverage",
    "imports of goods",
    "ISCR",
    "management of the International Monetary Fund",
    "Middle East",
    "outlook",
    "Pages: 51",
    "Volume: 2016",
    "Issue: 120",
    "Series: Country Report No. 2016/120",
    "DOI: https://doi.org/10.5089/9781484350843.002",
    "Stock No: 1AFGEA2016002",
    "ISBN: 9781484350843",
    "ISSN: 1934-7685",
    "Publication date on page: May 13, 2016",
    "**_cr16120**"
  ],
  "related": [
    {
      "title": "_cr16120",
      "role": "document",
      "sourceUrl": "https://www.imf.org/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2016/_cr16120.pdf",
      "summary": {
        "path": "/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2016/_cr16120.pdf.md",
        "mime": "text/markdown"
      },
      "binary": {
        "path": "/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2016/_cr16120.pdf",
        "mime": "application/pdf"
      }
    }
  ],
  "alternates": {
    "markdown": "/en/publications/cr/issues/2016/12/31/islamic-republic-of-afghanistan-second-review-under-the-staff-monitored-program-press-43896/index.md",
    "json": "/en/publications/cr/issues/2016/12/31/islamic-republic-of-afghanistan-second-review-under-the-staff-monitored-program-press-43896/index.json",
    "bundleManifest": "/en/publications/cr/issues/2016/12/31/islamic-republic-of-afghanistan-second-review-under-the-staff-monitored-program-press-43896/bundle-manifest.json"
  },
  "generatedAtUtc": "2026-09-14T14:46:42.331Z"
}