Economic integration of Central Asian countries and Caucasus
The International Monetary Fund (IMF) has identified the ways for economic integration between Central Asian countries and the Caucasus. Experts said that it is necessary for these countries to strengthen cooperation in the financial and banking sectors. IMF global trade expansion experts have urged the countries to conduct work on the facilitation of customs procedures and maintaining the level of private investments. According to their estimates, it will increase Kazakhstan’s GDP by one per cent. The Kazakh Government has been cooperating with the IMF for over twenty years.
DANIYAR AKISHEV, CHAIRMAN, KAZAKHSTAN’S NATIONAL BANK
- In 2000, the Kazak Government paid off all its IMF debt and ever since we don’t have any financial commitments. IMF provides substantial support for us in the areas such as implementation of monetary policy. In general, our cooperation is focused on the standard IMF operations in terms of consulting both the Government and the National Bank.