Kazakhstan: Recent Economic Developments

International Monetary Fund

No 1997/067, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper reviews economic developments in the Republic of Kazakhstan during 1993–97. During 1993–94, price liberalization was virtually completed, most of the restrictions on foreign trade were eliminated, and a new currency with a unified rate was introduced. At the same time, state orders were phased out and privatization initiated. Since early 1996, the authorities have accelerated privatization, extending it to many large enterprises. Kazakhstan has also taken major steps toward banking and financial sector reform, through withdrawal of bank licenses, bank consolidation, introduction and enforcement of prudential regulations, and enhanced supervision.

Keywords: ISCR; CR; U.S. dollar; exchange rate; broad money; interest rate; foreign exchange; balance of payments; banking system; first quarter; foreign direct investment; natural monopoly; Privatization; Tariffs; Exports; Eastern Europe; Baltics (search for similar items in EconPapers)
Pages: 127
Date: 1997-08-13
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