## Islamic Republic of Afghanistan: Staff-Monitored Program

_IMF Staff Country Reports, June 2, 2015_

## Source details

**Canonical URL:** [Islamic Republic of Afghanistan: Staff-Monitored Program](https://www.imf.org/en/publications/cr/issues/2016/12/31/islamic-republic-of-afghanistan-staff-monitored-program-42974)

## Other formats

- [Markdown version](/en/publications/cr/issues/2016/12/31/islamic-republic-of-afghanistan-staff-monitored-program-42974/index.md)
- [Structured JSON version](/en/publications/cr/issues/2016/12/31/islamic-republic-of-afghanistan-staff-monitored-program-42974/index.json)
- [Bundle manifest](/en/publications/cr/issues/2016/12/31/islamic-republic-of-afghanistan-staff-monitored-program-42974/bundle-manifest.json)

## Bibliographic details
- Published: June 2, 2015
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781513508962.002

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### Summary and purpose
- The Staff-Monitored Program (SMP) for Afghanistan is designed to support the authorities’ reform agenda with a framework to address economic vulnerabilities and facilitate engagement with the international community to sustain donor support.
- The SMP will foster continued close engagement with Afghanistan, address immediate fiscal and banking vulnerabilities, and help manage risks.
- The SMP will preserve buffers, maintain low inflation and competitiveness, and lay the basis for high and inclusive growth.
- Under the SMP, fiscal policy will focus on mobilizing domestic budget revenue to finance projected expenditure and rebuild the treasury’s cash balance.

### Key features and objectives
- Support authorities’ reform agenda through a monitoring and engagement framework.
- Address immediate fiscal vulnerabilities.
- Address immediate banking vulnerabilities.
- Facilitate sustained donor support via strengthened engagement with the international community.
- Preserve macroeconomic buffers.
- Maintain low inflation.
- Maintain competitiveness.
- Lay the basis for high and inclusive growth.
- Mobilize domestic budget revenue to finance projected expenditure.
- Rebuild the treasury’s cash balance.

### Policy focus and priorities
- Fiscal policy: mobilize domestic budget revenue; finance projected expenditure; rebuild the treasury’s cash balance.
- Banking sector: address immediate banking vulnerabilities (specific measures not detailed on this page).
- External engagement: facilitate international community engagement to sustain donor support.
- Macro stability: preserve buffers, maintain low inflation, and maintain competitiveness.
- Growth strategy: create conditions conducive to high and inclusive growth.

### Thematic coverage (as listed)
- Banking
- Budget planning and preparation
- Central banks
- Currencies
- Expenditure
- International reserves
- Money
- Public financial management (PFM)

### Keywords (as listed)
- Afghan authorities
- Budget planning and preparation
- capacity-building effort
- CR
- Currencies
- donor flow
- Global
- governance
- government
- international community
- International reserves
- ISCR
- managing director of the International Monetary Fund
- Middle East
- priority sector

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## Content in this bundle

- **_cr15140**
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_Source: https://www.imf.org/en/publications/cr/issues/2016/12/31/islamic-republic-of-afghanistan-staff-monitored-program-42974_