Cover IMF Staff Country Reports
Republic of Kazakhstan: 2008 Article IV Consultation: Staff Report; Staff Statement; and Public Information Notice on the Executive Board Discussion
Author: International Monetary Fund
Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2008: Issue 288
Language:
English
Publication Date:
18 Aug 2008
DOI:
https://doi.org/10.5089/9781451821017.002
ISBN:
9781451821017
ISSN:
1934-7685
Pages:
49
Keywords:
ISCR; CR; food price inflation; price; refinancing; injection; foreign currency assets; Kazakhstan economy; market perception; current account; Loans; Exchange rates; Foreign assets; Credit; Global; Central Asia and the Caucasus; Central Asia
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The Republic of Kazakhstan’s 2008 Article IV Consultation shows that banks have lost access to new external financing, credit extension has stalled, and growth has slowed. Nevertheless, Kazakhstan has considerable public financial resources to help it weather the current situation and the country is benefiting from high oil and commodity prices. A realistic assessment of the health of banks needs to be made and steps taken to mitigate risks, including by bolstering capital bases, strengthening bank supervision, and further developing the financial safety net framework.
Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund