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Republic of Kazakhstan: 2010 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Kazakhstan

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  • International Monetary Fund

Abstract

The global financial crisis led to an abrupt halt in credit growth, exposed underlying vulnerabilities in the banking sector, and impaired GDP growth in Kazakhstan. Executive Directors commended the authorities for their prudent macroeconomic policies and swift response to the financial crisis. They stressed the urgency of implementing the bank resolution strategy accompanied by full assessment of recapitalization needs and improvements in the regulatory and supervisory frameworks. Directors highlighted the need for a well-capitalized and well-regulated financial system in facilitating economic diversification, and urged sustained efforts to improve governance and the business environment.

Suggested Citation

  • International Monetary Fund, 2010. "Republic of Kazakhstan: 2010 Article IV Consultation: Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Kazakhstan," IMF Staff Country Reports 2010/241, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2010/241
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    Citations

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    Cited by:

    1. Morris Goldstein, 2011. "Integrating Reform of Financial Regulation with Reform of the International Monetary System," Working Paper Series WP11-5, Peterson Institute for International Economics.
    2. Ahmed Taneem Muzaffar & Anis Chowdhury, 2014. "The IMF and the policy of low inflation: A review of Article IV consultations for selected Asian developing countries," The Economic and Labour Relations Review, , vol. 25(3), pages 435-454, September.
    3. Ping, Luo, 2011. "The Current State of the Financial Sector and the Regulatory Framework in Asian Economies—The Case of the People’s Republic of China," ADBI Working Papers 310, Asian Development Bank Institute.

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