DUSHANBE, January 25 (RIA Novosti) - Tajikistan's gold and foreign currency reserves stood at $180 million as of January 1, 2007, unchanged from previous years, the head of the Central Asian country's Central Bank said Thursday.
Murodali Alimardonov said that Tajikistan's Central Bank plans to increase its gold and foreign currency reserves in 2007 to meet demand created by growing imports.
"Because imports are growing, we need to provide the market with foreign currency reserves," he said, adding that at the same time the government is working to reduce imports as a way of backing local producers.
Alimardonov earlier said the bank had no plans to significantly increase its gold and foreign currency reserves in 2006, as the country's market "needed a chance to develop."
He said the bank raised the refinancing rate from 11% to 13% through 2006 to control inflation. But as of the first quarter of 2007, it plans to reduce the rate.
Inflation is expected to reach 7% in 2007, down from 12.5% in 2006.
Tajikistan's foreign debt has reached $866 million as of January 1, 2007, down $28 million, year-on-year, the country's deputy finance minister said Thursday, adding that a $99 million debt has been paid off to the International Monetary Fund (IMF).
Finance Minister Safarali Nazhmiddinov said Tajikistan would be able to service and repay its debt in due course.
