Kazakhstan: Recent Economic Developments
IMF Staff Country Reports, August 13, 1997
Source details
- Canonical URL
- Kazakhstan: Recent Economic Developments
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Bibliographic details
- Published: August 13, 1997
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451820775.002
Summary
- Reviews economic developments in the Republic of Kazakhstan during 1993–97.
- During 1993–94:
- Price liberalization was virtually completed.
- Most of the restrictions on foreign trade were eliminated.
- A new currency with a unified rate was introduced.
- State orders were phased out and privatization initiated.
- Since early 1996:
- Authorities accelerated privatization, extending it to many large enterprises.
- Major steps taken toward banking and financial sector reform.
Major policy actions and reforms
- Privatization:
- Initiated during 1993–94.
- Accelerated since early 1996 and extended to many large enterprises.
- Trade and price liberalization:
- Price liberalization virtually completed in 1993–94.
- Most restrictions on foreign trade eliminated in 1993–94.
- Currency and exchange regime:
- Introduction of a new currency with a unified rate in 1993–94.
- Banking and financial sector reform:
- Withdrawal of bank licenses.
- Bank consolidation.
- Introduction and enforcement of prudential regulations.
- Enhanced supervision.
Key subjects and keywords covered
- Subject: Commercial banks, Economic sectors, Expenditure, Exports, Foreign exchange, International trade, Privatization, Tariffs, Taxes
- Keywords: balance of payments, Baltics, banking system, broad money, CR, Eastern Europe, exchange rate, Exports, first quarter, foreign direct investment, foreign exchange, interest rate, ISCR, natural monopoly, Privatization, Tariffs, U.S. dollar
International Monetary Fund. "Kazakhstan: Recent Economic Developments", August 13, 1997.