COVID-19 Latest
Kazakhstan|business|September 4, 2015 / 03:31 PM
IMF says Kazakhstan's new monetary policy to benefit economy

AKIPRESS.COM - IMF The new monetary and credit policy of Kazakhstan based on inflation targeting policy will lead to more effectively managed economy, Director of the IMF Department for Middle East and Central Asia Masood Ahmed told Kazinform state news agency.

Masood Ahmed visited Kazakhstan September 2-4 and met with Kazakh authorities, including Prime Minister Karim Massimov and Chairman of the National Bank Kairat Kelimbetov.

"All advanced and developed economies take similar measures to make sure that the prices remain stable. Price increase affects, first of all, poor people. The role of the National Bank in this regards is to guarantee prices stability. That is why, we think that transition to inflation targeting policy is a good step towards stable prices," Ahmed said.

Inflation targeting should be considered as part of wider reforms leading to more effectively managed economy, he added.

The National Bank and government of Kazakhstan have decided to start implementing a new monetary and credit policy effective since August 20 on the basis of inflation targeting, abandoning of the currency corridor and introducing a freely floating exchange rate.

The difference between the buying and selling however should not exceed 2 tenge, as the central bank of the republic said.

US dollar weighted average rate with T+0 settlements in tenge made up KZT239.60 per US dollar (KZT-0.16) as a result of September 4 KASE (Kazakhstan Stock Exchange) morning session.

All rights reserved

© AKIpress News Agency - 2001-2024.

Republication of any material is prohibited without a written agreement with AKIpress News Agency.

Any citation must be accompanied by a hyperlink to akipress.com.

Our address:

299/5 Chingiz Aitmatov Prosp., Bishkek, the Kyrgyz Republic

e-mail: english@akipress.org, akipressenglish@gmail.com;

Follow us:

Log in


Forgot your password? - recover

Not registered yet? - sign-up

Sign-up

I have an account - log in

Password recovery

I have an account - log in