## Islamic Republic of Afghanistan: Second Review Under the Staff-Monitored Program-Press Release; and Staff Report

_IMF Staff Country Reports, May 13, 2016_

## Source details

**Canonical URL:** [Islamic Republic of Afghanistan: Second Review Under the Staff-Monitored Program-Press Release; and Staff Report](https://www.imf.org/en/publications/cr/issues/2016/12/31/islamic-republic-of-afghanistan-second-review-under-the-staff-monitored-program-press-43896)

## Other formats

- [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)

## Bibliographic details
- Published: May 13, 2016
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781484350843.002

---

### Economic context and drivers
- 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.

### Fiscal and external developments
- 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 and outlook
- 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.

### Subject areas covered
- Anti-money laundering and combating the financing of terrorism (AML/CFT)
- Banking
- Budget planning and preparation
- Crime
- Economic and financial statistics
- Expenditure
- External sector statistics
- Public financial management (PFM)
- Revenue administration

### Keywords (as provided)
- Afghan authorities
- Anti-money laundering and combating the financing of terrorism (AML/CFT)
- Budget planning and preparation
- Central Asia
- CR
- exchange rate
- External sector statistics
- Global
- government
- import coverage
- imports of goods
- ISCR
- management of the International Monetary Fund
- Middle East
- outlook

### Publication metadata and identifiers
- 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

*International 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).*

---

## Content in this bundle

- **_cr16120**
  - [_cr16120 (Markdown version)](/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2016/_cr16120.pdf.md){rel="alternate" type="text/markdown"}
  - [_cr16120 (PDF)](/-/media/websites/imf/imported-full-text-pdf/external/pubs/ft/scr/2016/_cr16120.pdf){rel="external" type="application/pdf"}

---

_Source: https://www.imf.org/en/publications/cr/issues/2016/12/31/islamic-republic-of-afghanistan-second-review-under-the-staff-monitored-program-press-43896_