Al Jazeera Analysis: Tajikistan's economy is growing rapidly, but it is highly dependent on remittances, and the World Bank still classifies it as a country at high risk of debt distress.
The article states that Tajikistan's GDP grew by 8.2% in the first half of 2026, with fixed capital investment increasing by 18.4%. However, its economy is highly dependent on remittances, which accounted for approximately 46% of GDP in 2025. The World Bank still classifies the country as being at high risk of debt distress, primarily due to high external repayments relative to export earnings in 2025-2027. The International Monetary Fund (IMF) assesses its sovereign debt as sustainable but notes that the unguaranteed debt of state-owned enterprises (SOEs) such as TALCO and Barqi Tojik (contingent liabilities accounting for 11.7% of GDP) increases fiscal risks. TALCO also faces an arbitration award exceeding $300 million.
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