Tariq Saeedi The BRICS summit will be held in Kazan, Russia, 22-24 October 2024. Three major announcements are expected. One of them is the launch of the BRICS Pay, an alternative system aimed at de-dollarization. Blockchain-based, it could possibly be one of the biggest geopolitical and economic developments of recent years. Moreover, it will operate […]
More Diversified Trade Can Make Middle East and Central Asia More Resilient
Jihad Azour Dislocations from the pandemic, geoeconomic fragmentation, and Russia’s war in Ukraine have shifted world trade dynamics. While this has created challenges, the redirection of trade has also generated new opportunities, particularly for the Caucasus and Central Asia. Since the war began, the region’s economies have shown continued resilience and trade activity in many […]
IMF cautiously upbeat on economies of Caucasus and Central Asia
“Resilience in the global economy and easing global inflationary pressures are positive developments for economies in the Middle East and Central Asia. Overall growth is projected to strengthen to 2.8 percent in 2024 (from 2.0 percent in 2023) and 4.2 percent in 2025,” says the opening paragraph of the executive summary of the IMF Report […]
IMF: How More Effective Monetary Policy Can Tame Inflation in the Caucasus and Central Asia
By Maria Atamanchuk, Klakow Akepanidtaworn, Ezequiel Cabezon, Tigran Poghosyan, and Selim Cakir August 28, 2023 Addressing persistent inflation also requires tackling structural factors that are making monetary policy less effective Inflation has remained stubbornly high, exceeding central banks’ targets in most Caucasus and Central Asia (CCA) countries. Inflation rates are volatile, due to the large […]
How to Accelerate Economic Growth in the Caucasus and Central Asia
By Nick Gigineishvili July 10, 2023 In the medium-term, reforms can increase output in the region by 5 to 7 percent Since independence in the early 1990s, income levels and living standards in the Caucasus and Central Asia (CCA) have improved but remain well below the levels of emerging Europe. The state continues to play […]
IMF Regional Capacity Development Center for Caucasus, Central Asia, and Mongolia opened in Kazakhstan
On 9 June 2023, the International Monetary Fund (IMF) Regional Capacity Development Center for the Caucasus, Central Asia and Mongolia opened in Almaty, the National Bank of Kazakhstan reports. The Caucasus, Central Asia, and Mongolia Regional Capacity Development Center (CCAMTAC) is a joint project of the IMF and nine member countries – Armenia, Azerbaijan, Georgia, […]
Global economy faces tougher year in 2023, IMF’s Georgieva warns
Dan Burns For much of the global economy, 2023 is going to be a tough year as the main engines of global growth – the United States, Europe and China – all experience weakening activity, the head of the International Monetary Fund said on Sunday. The new year is going to be “tougher than the […]
IMF Concludes 2011 Article IV Mission to Turkmenistan
Statement at the Conclusion of the 2011 Article IV Mission to Turkmenistan Press Release No. 11/223 June 7, 2011 An International Monetary Fund mission led by Mrs. Veronica Bacalu visited Ashgabat on May 25−June 7, 2011 to conduct discussions in the context of the Article IV consultation.1 The IMF team and the Turkmen authorities discussed […]