Central and West Asia

Sum of Measures 1—5 (Total Package)

Total Package in USD Million: 1
% of GDP (2019): 0.02%
% of Regional Total Package: 0.00%
Package Per Capita in USD: 0.14
Note: Measures 9 and 10 are added to the sum of Measures 1-5.
Measure Amount (Local) Amount (USD) Details Update Source
01 - Liquidity Support info_outline
01A - Short-term lending info_outline
01B - Support policies for short-term lending info_outline

No amount/estimate: April 8, The National Bank of Tajikistan (NBT) lowered the reserve requirement for local currency and foreign exchange deposits to boost liquidity in the system of up to 2 percentage points and 4 percentage points, respectively, by December 31, 2020 [update].

01C - Forex operations info_outline

No amount/estimate: April 7, The National Bank of Tajikistan, in order to reduce exchange rate pressures, exposure to existing currency risks and ensure compliance with the 2% difference between the official rate and the selling rate of the cash US dollar, as well as prevent the difference in the unofficial market, carries out a one-time correction of the official exchange rate of the US dollar at 5%.

02 - Credit creation info_outline
02A - Financial sector lending/funding info_outline
02B - Support policies for long-term lending info_outline

No amount/estimate: (i) February 10, The NBT has lowered the refinancing rate from 14.75% to 12.25% per annum (2.5 percentage points) [update]; (ii) April, The NBT hiked the policy rate by 50 basis points to 12.75% to contain inflationary pressures; (iii) May 1, The NBT cut the policy rate by 1 percentage point to 11.75% to ease monetary conditions; (iv) Interest rate on bank deposits have been lowered from 12% to 6% from July 1 to December 31, 2020 [update].

02C - Loan guarantees
03 - Direct long-term lending info_outline
03A - Long-term lending info_outline

No amount/estimate: June, Government is to disburse preferential loans to food and medical supply producing companies through the Fund for State Support to Entrepreneurship [update].

03B - Forbearance

No amount/estimate: June, The NBT recommended the banks to consider restructuring (i.e., extending maturity) loans that face temporary hardship [update].

04 - Equity support info_outline
05 - Government support to income/revenue TJS12,400,000 USD1,253,464
05A - Health

No amount/estimate: May 22, The Ministry of Health Care and Social Protection was instructed to adjust operation of hospitals, outpatient facilities, healthcare centers, medical facilities, and to supply them with medicines, and modern equipment. The virology laboratory will be launched in Sughd region of Tajikistan in the next few days, where COVID-19 tests will be made.

05B - Non-health TJS12,400,000 USD1,253,464

(i) May 2, President Emomali Rahmon has allocated TJS12.4 million from the Presidential Reserve to supplement the salaries of health and social protection workers for 3 months, who are directly involved in the diagnosis and treatment of COVID-19 infection in medical and quarantined medical institutions [update]; (ii) No amount/estimate: May 19, The President sent an assistance package to the Sughd Privince. The package consists of 900 tons of food to provide socioeconomic support for doctors and those infected with COVID-19; June: (iii) No amount estimate: The Government is to provide lumpsum assistance equivalent to the minimum wage to vulnerable households and other socially disadvantaged groups. Health workers are also expected to receive supplemental pay; (iv) Tariff increases on electricity, water, and communal services have been postponed until end of 2020; (v) Government is providing free medical care to citizens placed under medical care and COVID-19 patients, as well as sick leave and compensation benefits; (vi) Government provided time-bound tax holidays and relief to targeted industries and small businesses until September 1, 2020 [update].

06 - Budget reallocation info_outline
07 - Central bank financing government
07A - Direct lending & reserve drawdown
07B - Secondary purchase: government securities
08 - International Assistance Received TJS2,710,535,738 USD273,996,741
08A - Swaps info_outline
08B - International loans/grants TJS2,710,535,738 USD273,996,741
08B1 - Asian Development Bank TJS506,401,368 USD51,190,000

(i) March 13, USD0.1 million grant for Maternal and Child Health Integrated Care Project under ADF; (ii) April, USD1.02 million - TA9950-REG: Regional Support to Address the Outbreak of Coronavirus Disease 2019 and Potential Outbreaks of Other Communicable Diseases; (iii) June 3, USD0.07 million TASF - REG: Developing a Disaster Risk Transfer Facility in the Central Asia Regional Economic Cooperation Region (additional financing); (iv) June 18, USD50 million ADF grant for COVID-19 Active Response and Expenditure Support Program [update].

08B2 - Other TJS2,204,134,370 USD222,806,741

(i) April 2, The World Bank’s Board of Executive Directors approved today USD11.3 million in grant financing from the International Development Association for the Tajikistan Emergency COVID-19 Project, which will support the country’s efforts to prepare for and respond effectively to the health and social risks associated with the global COVID-19 (Coronavirus) pandemic; (ii) April 14-Oct 13: IMF Catastrophe Containment And Relief Trust-Grant Assistance For Debt Service Relief, SDR7.83 million (SDR0.729/USD); (iii) May 6, The IMF Executive Board approved a disbursement of USD189.5 million under the Rapid Credit Facility for budget support to help Tajikistan meet urgent balance of payments and fiscal needs stemming from the COVID-19 pandemic; (iv) May 19, USD1 million UN COVID-19 Response & Recovery Fund from UNDP; May: (v) USD9.4 million from ISDB - Emergency Support for Building COVID-19 pandemic preparedness and response capacity in the Republic of Tajikistan; (vi) Approximately USD0.866 million provided by USAID for health assistance to help prepare laboratory systems, activate case-finding and event-based surveillance, support technical experts for response and preparedness, bolster risk-communications, and more.

09 - International Assistance Provided
09A - Swaps info_outline
09B - International loans/grants
10 - No breakdown
11 - Other Economic Measures

April, The NBT hiked the policy rate by 50 basis points to 12.75% to contain inflationary pressures.

12 - Non-Economic Measures

April: (i) The authorities have instituted a high-level task force and taken a range of measures to contain the spread of the virus, including border closures, travel restrictions, and suspending prayers at mosques; (ii) The task force is preparing for potential outbreak by arranging testing labs, medical equipment, supplies, and personnel across the country; (iii) May, All schools will remain closed until May 10; (iv) On June 6, the government presented a reopening plan which includes (a) resuming operations of bazaars, cafes, beauty and hairdressing salons, and barber shops along other businesses starting on June 15. All businesses must adhere strict cautionary measures, including regular disinfection of premises and observance of social distancing; and (b) while restrictions on public transport will be removed and intercity travel remains open, international flights are not expected to resume until further notice [update].