>>World Bank says Tajikistan needs to adapt>>
FEB. 4 2015 (The Conway Bulletin) — In a report on Tajikistan, the World Bank said a third of Tajik men leave the country to find work and that the informal market employs about 60% of the population.
Adapting local labour training to a market that needs analytical skills and not just manual work is key to developing Tajikistan’s workforce, the World Bank wrote.
The migration numbers and the large informal economy mean the Tajik economy is fragile, especially when its main driver — the Russian economy is also under stress.
The Tajik Central Bank has raised interest rates and depleted its currency reserves in an attempt to defend its currency from a sharp devaluation. It has warned that it can’t sustain a long, second defence of its economy.
In its report, entitled “The Skills Road: Skills for Employability in Tajikistan”, the World Bank argued that the Tajik economy is undergoing significant changes that need a new approach from the government to develop more and better analytical skills to boost the formal sector of the economy and also reduce migration trends.
“New economy skills are strong analytical and organizational skills, including non-routine cognitive analytical and interpersonal skills,” the World Bank wrote.
“The report’s conclusion is that the government could shift the focus from providing access to educational institutions and instead focus on providing the skills (cognitive, non-cognitive, and technical) to students who need to succeed as adults.”
ENDS
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(News report from Issue No. 218, published on Feb. 11 2015)