The International Monetary Fund approves of the structural changes that have been taking place in Turkmenistan recently. The main objective of large-scale transformations is to improve the business environment, Building the role of the private sector and diversification of the Turkmen economy.
The Fund also said that it intends to continue to provide policy advice on various financial and macroeconomic challenges, taking into account the practices of other economies. The IMF intends to assist the Turkmen authorities in building institutions and technical resources.
Turkmenistan's leadership has previously expressed its intention to bring regulations into compliance with the Basel Principles. This will ultimately strengthen financial supervision. The Fund's representatives have taken this decision into account.
According to the statement released by the IMF, strengthening financial supervision and improving the regulatory framework will not only reduce the likely risks in the financial system of the country, but also help to more effectively implement the readjustment to a market economy.
Source: trend.az
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