IMF Staff Country Reports

Kazakhstan: Recent Economic Developments

Publication Date:

August 13, 1997

Summary:

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.

Series:

Country Report No. 1997/067

Subject:

Commercial banks Economic sectors Expenditure Exports Foreign exchange International trade Privatization Tariffs Taxes