## Kazakhstan: Recent Economic Developments

_IMF Staff Country Reports, August 13, 1997_

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**Canonical URL:** [Kazakhstan: Recent Economic Developments](https://www.imf.org/en/publications/cr/issues/2016/12/30/kazakhstan-recent-economic-developments-2304)

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## Bibliographic details
- Published: August 13, 1997
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451820775.002

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### 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.*

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_Source: https://www.imf.org/en/publications/cr/issues/2016/12/30/kazakhstan-recent-economic-developments-2304_