Yingming Yang, Vice-President, Asian Development Bank, and Bo Li, Deputy Managing Director, International Monetary Fund Despite heightened global uncertainty and persistent geopolitical tensions, the Caucasus and Central Asia have continued to surprise on the upside. Growth in the subregion, which includes Armenia, Azerbaijan, Georgia, Kazakhstan, Kyrgyz Republic, … [Read more...]
Central Asia Economic Outlook 2025: A Comprehensive Survey of Macroeconomic Indicators and Projections
Editor’s Note: This report is experimental in nature. We have taken the data from IMF, World Bank, ADB, EBRD, and EDB and attempted to arrive at mean economic indicators. All of these financial institutions have their own methodologies because of the differences in their particular focus. This leads to the economic indicators being assessed differently by the different … [Read more...]
IMF predicts slight slowdown in economic growth in Central Asia and Caucasus Region
IMF has predicted a slight slowdown in the economic growth in the Central Asia and Caucasus region in the near- to mid-term assessment. The IMF Regional Economic Outlook for Middle East and Central Asia, released on 1 May 2025 at a press conference in Dubai, says, “Economies in the CCA region experienced robust output growth in 2024, exceeding the October 2024 REO … [Read more...]
CAREC Ministers launched the Regional Climate Fund and endorsed Climate Change Action Plan
Member countries of the Central Asia Regional Economic Cooperation (CAREC) Program have endorsed a new Climate Change Action Plan (CCAP) and launched the CAREC Climate and Sustainability Project Preparatory Fund (CSPPF) to strengthen regional collaboration on climate resilience, low-carbon growth, and sustainable development. This endorsement took place at the 23rd CAREC … [Read more...]
Is the US Dollar heading toward collapse? – Part Two
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 as the global south’s … [Read more...]
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 … [Read more...]
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 ‘Regional Economic Outlook – Middle East … [Read more...]
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 a dominant role in many CCA economies and … [Read more...]
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, … [Read more...]
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 … [Read more...]
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 year we leave behind," IMF Managing Director Kristalina Georgieva said on the CBS … [Read more...]
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 the recent economic … [Read more...]