IMF Wants to Assess Kazakhstan Financial Market

The International Monetary Fund is going to assess how Kazakhstan’s financial market works. The fund can start this process this fall. 

As the Kazakhstan National Bank’s press service reported, its Chairman Erbolat Dossayev has talked with Kristalina Georgieva, chair and managing director of the IMF within a series of meetings between IMF and World Bank Group. They discussed a wide range of issues, including anti-crisis measures, how the COVID-19 pandemic affected Kazakhstan’s economy, monetary policy issues and further development of the country’s financial sector.

«During the meeting, which was held online, IMF and the National Bank of Kazakhstan discussed how the fund can support our country in macroeconomic forecasting, stress testing, cybersecurity and risk management. They also discussed the possibility of complex assessment of the financial market of Kazakhstan in the fall of 2021,» the National Bank’ press service reported.

While talking about online webinars by the IMF Regional Capacity Development Center for the Caucasus, Central Asia, and Mongolia, Dossayev and Georgieva shared their opinions on the physical opening of such a center in Almaty.

The decision to deploy IMF Regional Center in Kazakhstan was taken by the fund in October 2019. The IMF Regional Center in Almaty will be the first in the region and 17th in the world. The fund has chosen this location after reviewing two other applications from Uzbekistan and Georgia.