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Republic of Kazakhstan: Selected Issues

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  • International Monetary Fund

Abstract

Kazakhstani banks continue to suffer from a high and rising stock of nonperforming loans. A centralized approach to asset resolution is warranted, and could be based on a reinvigorated Distressed Asset Fund. A robust and transparent public financial management system should be an integral part of any effective fiscal framework. Deeper and sophisticated domestic financial markets will help decline in dollarization and the associated risks. A sound medium-term fiscal framework, supportive monetary and exchange rate policies, and overall financial sector reform is required.

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  • International Monetary Fund, 2010. "Republic of Kazakhstan: Selected Issues," IMF Staff Country Reports 2010/237, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2010/237
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    References listed on IDEAS

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    1. Jeffrey Carmichael & Michael Pomerleano, 2002. "The Development and Regulation of Non-Bank Financial Institutions," World Bank Publications - Books, The World Bank Group, number 15236, December.
    2. Calvo, Guillermo A, 2001. "Capital Markets and the Exchange Rate with Special Reference to the Dollarization Debate in Latin America," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 33(2), pages 312-334, May.
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    4. repec:idb:brikps:2958 is not listed on IDEAS
    5. Guillermo A. Calvo, 2002. "On dollarization," The Economics of Transition, The European Bank for Reconstruction and Development, vol. 10(2), pages 393-403, July.
    6. Luca, Alina & Petrova, Iva, 2008. "What drives credit dollarization in transition economies?," Journal of Banking & Finance, Elsevier, vol. 32(5), pages 858-869, May.
    7. Mrs. Gilda C Fernandez & Mr. Cem Karacadag & Rupa Duttagupta, 2004. "From Fixed to Float: Operational Aspects of Moving towards Exchange Rate Flexibility," IMF Working Papers 2004/126, International Monetary Fund.
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    Cited by:

    1. Lücke, Matthias, 2010. "Stabilization and savings funds to manage natural resource revenues: Kazakhstan and Azerbaijan vs. Norway," Kiel Working Papers 1652, Kiel Institute for the World Economy (IfW Kiel).
    2. Mkrtchyan Arevik, 2013. "Trade impact of non-tariff trade costs. An Assessment of the Customs Union of Russia, Belarus and Kazakhstan," EERC Working Paper Series 13/14e, EERC Research Network, Russia and CIS.
    3. Arevik Mkrtchyan, 2015. "Determining the Common External Tariff in a Customs Union: Evidence from the Eurasian Customs Union," BEROC Working Paper Series 27, Belarusian Economic Research and Outreach Center (BEROC).

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