Islamic State of Afghanistan; First Review Under the Staff-Monitored Program
This paper assesses the First Review Under the Staff-Monitored Program (SMP) for Afghanistan. The authorities have met all of the indicative quantitative targets set out under the SMP and all the structural benchmarks, except the benchmark on licensing of commercial banks, which was only partly met owing to the opposition of the shareholders of Export Promotion Bank to its merger with three other state-owned banks. The IMF staff views the authorities’ performance in the first quarter as a notable achievement.
Year of publication: |
2004-11-18
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Institutions: | International Monetary Fund (IMF) ; International Monetary Fund |
Subject: | Staff-monitored programs | debt | payments | expenditures | inflation | central bank | monetary policy | loans | external debt | monetary fund | monetary program | interest | restructuring | public expenditure | debt management | creditors | money laundering | taxes | tax exemptions | credit market | monetary survey | fiscal policy | money demand | debt rescheduling | tax revenues | bankruptcy legislation | liabilities | monetary statistics | obligations | tax reforms | official reserves | monetary growth | debt relief | monetary targets | tax collection | monetary instruments | monetary indicators | monetary conditions | monetary gold | debt forgiveness | regulatory environment | discount rates | monetary target | cash management | monetary expansion | monetary policy framework | debts | monetary policies | debt service | money supply |
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