Kazakhstan: Recent Economic Developments

International Monetary Fund

No 1996/022, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper reviews economic developments in Kazakhstan during 1994–96. In early 1994, Kazakhstan embarked on an ambitious stabilization program aimed at reducing inflation sharply and implementing structural reforms. This program was based on tight financial policies and a package of structural measures, including privatization and trade and price liberalization; it was supported by a one-year stand-by arrangement from the IMF, approved in January 1994. However, the stabilization effort was quickly derailed by the authorities’ inter-enterprise arrears netting operation that began in February 1994.

Keywords: ISCR; CR; U.S. dollar; trading partner; netting operation; management company; enterprise restructuring; foreign exchange; coverage ratio; privatized enterprise debt; b. enterprise reform; state government; grain procurement company; enterprise governance; nominal exchange rate; Credit; Inflation; Budget planning and preparation; Commercial banks; Central Asia; Global (search for similar items in EconPapers)
Pages: 127
Date: 1996-03-22
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