01638cas a2200241 a 4500 AALejournalIMF007521 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451837230 1934-7685 BD-DhAAL BD-DhAAL International Monetary Fund. Turkmenistan : Recent Economic Developments. Washington, D.C. : International Monetary Fund, 1998. 1 online resource (122 pages) IMF Staff Country Reports <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper reviews economic developments in Turkmenistan during 1994-98. Turkmenistan reduced gas exports and suffered a decline in real GDP of close to 40 percent during 1993-95. At the same time, it stepped up foreign borrowing and constrained imports by limiting access to foreign exchange to sustain gross international reserves at the equivalent of 6-9 months of imports. The distortions associated with the perpetuation of central controls, coupled with an accommodating monetary policy, led to financial instability, raising annual average inflation rates to close to 1,500 percent during 1993-95. Mode of access: Internet IMF Staff Country Reports; Country Report ; No. 1998/081 Full text available on IMF http://elibrary.imf.org/view/journals/002/1998/081/002.1998.issue-081-en.xml IMF e-Library