Republic of Kazakhstan: Financial System Stability Assessment

February 7, 2024

Preview Citation

Format: Chicago

Republic of Kazakhstan: Financial System Stability Assessment, (USA: International Monetary Fund, 2024) accessed November 21, 2024

Summary

Following Kazakhstan’s recovery from the 2014-15 decline in oil prices, the country was hit by a series of shocks, starting with the COVID-19 pandemic, then the January 2022 social unrest, and most recently the fallout from Russia’s invasion of Ukraine. So far, that has had limited impact on output, also thanks to various measures taken by the authorities to stabilize the economy. However, there are risks to the outlook. The financial system, which is small and bank-dominated, underwent significant changes during this period. Banks’ largest exposures are to households while large corporates rely on non-residents for funding.

Subject: Commercial banks, Financial institutions, Financial regulation and supervision, Financial Sector Assessment Program, Financial sector policy and analysis, Financial sector stability, International organization, Loans, Monetary policy

Keywords: ARDFM power, Asset concentration risk, Cash flow, Commercial banks, Consumer lending, Financial Sector Assessment Program, Financial sector stability, FSAP finding, FX assets, Global, Headline inflation, Instability episode, Kazakhstan financial system, Kazakhstan stock exchange, Kazakhstani tenge, Liquidity forbearance measure, Liquidity shock, Loan portfolio, Loans, NBK policy rate, Nonfinancial corporate, Tier 1

Publication Details

Pages:

53
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2024/048
Stock No:

1KAZEA2024003
ISBN:

9798400266041
ISSN:

1934-7685

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