IMF welcomes decision to float tenge

The director of the IMF’s Middle East and Central Asia Department, Masood Ahmed, visited Kazakhstan on September 2–4. He met Prime Minister of Kazakhstan Karim Massimov, the head of the National Bank of the Republic, Kairat Kelimbetov, and other officials.

Masood Ahmed said in his statement that Kazakhstan, like other countries in the region, has been hit by large external shocks, linked with a decrease in oil prices and a slowdown in China and Russia.

He said he was impressed by the authorities’ determination to put in place the policies needed to ensure macroeconomic and financial stability.

In this regard, the IMF welcomes the recent action by the National Bank to float the tenge, RIA Novosti reports.