Treasury Reform in Kazakhstan: Lessons for Other Countries


Eivind Tandberg ; S. Ramamurthy

Publication Date:

August 1, 2002

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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


Kazakhstan’s government has established a comprehensive and efficient treasury system for government revenues and expenditures, and introduced a state-of-the-art government financial management information system. Kazakhstan is among the leading BRO (Baltics, Russia, and other Former Soviet Union) countries in modernizing its budget execution system despite remaining challenges in other areas of fiscal management. The successful outcomes are related partly to the high quality of the reform process, and partly to the institutional design of the Kazakh treasury. Some design features are common for most well-functioning treasuries. Other features are related to the specific economic factors, institutional features, and financial management objectives of a transition economy, with a strong emphasis on fiscal control and financial discipline.


Working Paper No. 2002/129



Publication Date:

August 1, 2002



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