Republic of Kazakhstan: 2006 Article IV Consultation—Staff Report; and Public Information Notice on the Executive Board Discussion

July 5, 2006

Preview Citation

Format: Chicago

Republic of Kazakhstan: 2006 Article IV Consultation—Staff Report; and Public Information Notice on the Executive Board Discussion, (USA: International Monetary Fund, 2006) accessed November 21, 2024

Summary

The discussions centered on the needed steps to tighten monetary conditions, curb banks’ external borrowing, and reduce banks’ vulnerability to a sharp deterioration in the quality of loan portfolios. Strong expansion in oil and non-oil receipts in 2005 permitted continued rapid spending growth within a sharply increasing surplus position of the overall budget. The authorities recognize that structural reforms to enhance the investment climate are critical for sustaining the non-oil sector’s growth prospects. Significant gains in productivity will be required to offset the impact of the inevitable trend real exchange rate appreciation.

Subject: Banking, Credit, External debt, Financial institutions, Loans, Money, Oil prices, Oil, gas and mining taxes, Prices, Taxes

Keywords: Cash position, Central Asia, CR, Credit, Cross-border activity, Current account, Europe, Gas and mining taxes, Global, ISCR, Loans, Nominal interest rate, Oil, Oil prices, Tenge, U.S. dollar

Publication Details

Pages:

46
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2006/244
Stock No:

1KAZEA2006001
ISBN:

9781451820980
ISSN:

1934-7685

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