Republic of Kazakhstan: 2011 Article IV Consultation: Staff Report; Supplement; and Public Information Notice
June 28, 2011
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Kazakhstan’s economic recovery and unemployment rate and other issues are discussed in this paper. The banking and corporate sectors have not recovered from the crisis despite strong economic growth. Ownership and partial financing of the envisaged centralized distressed asset fund by the National Bank of Kazakhstan (NBK) poses risks to the integrity of monetary policy, and may create conflicts with its new supervisory powers. The importance of fully implementing the announced macroprudential measures and enhancing liquidity management practices to manage a possible increase in capital inflows are outlined.
Subject: Banking, Distressed assets, External debt, Financial institutions, Financial sector policy and analysis, Fiscal policy, Fiscal stance, Loans, Public debt
Keywords: CR, current account, Distressed assets, emergency support, exchange rate, Fiscal stance, foreign currency, Global, headline inflation, inflation pressure, ISCR, Loans, pace of economic recovery, rate, support monetary policy
Pages:
55
Volume:
2011
DOI:
Issue:
150
Series:
Country Report No. 2011/150
Stock No:
1KAZEA2011001
ISBN:
9781455288625
ISSN:
1934-7685
