Banking System Restructuring in Kazakhstan

Author/Editor:

David S. Hoelscher

Publication Date:

June 1, 1998

Electronic Access:

Free Full text (PDF file size is 1881 KB).Use the free Adobe Acrobat Reader to view this PDF file

Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

Summary:

This paper reviews financial restructuring in Kazakhstan, and the condition of the financial system in the period following independence. The authorities’ efforts to redress financial sector weaknesses fall into two phases: The first phase addressed the immediate crises in the banking system by slowing bank licensing, tightening prudential regulations, and dealing with large nonperforming loans. The next phase saw reforms to regulatory and institutional structures. The paper shows that, by the end of 1997, substantial reforms in the structure of the financial system had been accomplished and a major financial collapse avoided. However, the banking system had not begun to play an active role in financial intermediation.

Series:

Working Paper No. 98/96

Subject:

English

Publication Date:

June 1, 1998

ISBN/ISSN:

9781451851885/1018-5941

Stock No:

WPIEA0961998

Price:

$15.00 (Academic Rate:$15.00)

Format:

Paper

Pages:

33

Please address any questions about this title to publications@imf.org