Republic of Kazakhstan: 2010 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Kazakhstan

July 30, 2010

Preview Citation

Format: Chicago

Republic of Kazakhstan: 2010 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Kazakhstan, (USA: International Monetary Fund, 2010) accessed November 23, 2024

Also available in: русский

Summary

The global financial crisis led to an abrupt halt in credit growth, exposed underlying vulnerabilities in the banking sector, and impaired GDP growth in Kazakhstan. Executive Directors commended the authorities for their prudent macroeconomic policies and swift response to the financial crisis. They stressed the urgency of implementing the bank resolution strategy accompanied by full assessment of recapitalization needs and improvements in the regulatory and supervisory frameworks. Directors highlighted the need for a well-capitalized and well-regulated financial system in facilitating economic diversification, and urged sustained efforts to improve governance and the business environment.

Subject: Banking, Commodities, Credit, External debt, Financial institutions, Loans, Money, Oil, Public debt

Keywords: CR, Credit, EBRD financing, Financial market of the Republic of Kazakhstan, Fiscal policy, Global, Inflation pressure, ISCR, Kazakhstan, Liquidity support, Loans, Market disorder, Oil, Sector growth, Tenge

Publication Details

Pages:

58
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2010/241
Stock No:

1KAZEA2010002
ISBN:

9781455207237
ISSN:

1934-7685

Notes

Also available in Russian

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