Republic of Kazakhstan: 2008 Article IV Consultation: Staff Report; Staff Statement; and Public Information Notice on the Executive Board Discussion
August 18, 2008
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The Republic of Kazakhstan’s 2008 Article IV Consultation shows that banks have lost access to new external financing, credit extension has stalled, and growth has slowed. Nevertheless, Kazakhstan has considerable public financial resources to help it weather the current situation and the country is benefiting from high oil and commodity prices. A realistic assessment of the health of banks needs to be made and steps taken to mitigate risks, including by bolstering capital bases, strengthening bank supervision, and further developing the financial safety net framework.
Subject: Banking, Credit, Exchange rates, External debt, External position, Financial institutions, Foreign assets, Foreign exchange, Loans, Money
Keywords: Central Asia, Central Asia and the Caucasus, CR, Credit, current account, Exchange rates, food price inflation, Foreign assets, foreign currency assets, Global, injection, ISCR, Kazakhstan economy, Loans, market perception, price, refinancing
Pages:
49
Volume:
2008
DOI:
Issue:
288
Series:
Country Report No. 2008/288
Stock No:
1KAZEA2008002
ISBN:
9781451821017
ISSN:
1934-7685
Notes
Available also in Russian
