IMF Staff Country Reports

Republic of Kazakhstan: 2007 Article IV Consultation-Staff Report; and Public Information Notice on the Executive Board Discussion

Publication Date:

July 10, 2007

Electronic Access:

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Summary:

The 2007 Article IV Consultation on the Republic of Kazakhstan focuses on the appropriate policy response to mounting banking sector risks and continuing inflation pressures. Banking sector risks are mounting and inflation remains relatively high. The authorities intend to continue raising policy interest rates gradually. The Financial Supervision Agency’s (FSA) powers have been enhanced and a sizable increase in its resources is expected shortly. Monetary tightening and exchange rate appreciation are needed to contain risks and dampen inflation.

Series:

Country Report No. 2007/235

Subject:

Bank credit Commercial banks Credit External debt Financial institutions Foreign exchange Loans Money