Islamic State of Afghanistan: First Review Under the Staff-Monitored Program

November 18, 2004

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Islamic State of Afghanistan: First Review Under the Staff-Monitored Program, (USA: International Monetary Fund, 2004) accessed November 26, 2024

Summary

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.

Subject: Banking, Budget planning and preparation, Currencies, Exchange rates, Expenditure, Foreign exchange, Money, Public financial management (PFM)

Keywords: Balance of payments, Benchmark interest rate, Budget planning and preparation, Central bank, CR, Credit market, Currencies, Exchange rates, First quarter, Fund staff estimate, ISCR, Middle East, Monetary policy, Operating budget, Price pressure, Private sector, Successor SMP, Target level, Unallocated expenditure

Publication Details

Pages:

40
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2004/364
Stock No:

1AFGEA0022004
ISBN:

9781451800180
ISSN:

1934-7685

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