Republic of Kazakhstan: Staff Report for the 2012 Article IV Consultation
Volume/Issue:
Volume 2012
Issue 164
Publication date: July 2012
ISBN: 9781475504859
$20.00
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Topics covered in this book
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Banks and Banking , Exports and Imports , Finance , Inflation , Economics- Macroeconomics , ISCR , CR , Kazakh economy , fiscal policy , monetary policy transmission mechanism , economy , monetary policy development , authorities' intention , accommodative monetary policy stance , Loans , Inflation , Oil prices , Distressed assets , Global , Central Asia
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Summary
This 2012 Article IV Consultation reports that fiscal and monetary policies have adapted to the economic recovery in the Republic of Kazakhstan. The authorities have appropriately responded to the upswing in the cycle by gradually tightening fiscal policy and sterilizing excess bank liquidity. Directors have commended the authorities’ policies that, together with high commodity prices, yielded a strong economic recovery. Directors have also appreciated the preparation of plans to deal with a possible protracted global slowdown and a decline in oil prices.
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