Kazakhstan increased its quota in the authorized capital of the IMF

Almaty. April 30. Silkroadnews - «Kazakhstan increases its quota in the authorized capital of the International Monetary Fund from 365.7 million SDR to 427.8 million SDR. The proportion of votes the Republic of Kazakhstan will be increased by 17%. The decision was made on April 24, 2015 by the Board of the National Bank of Kazakhstan", - stated in the message.
Kazakhstan ratified the amendments to the Articles of Agreement of the IMF by adopting the Law "On ratification of the amendments to the Articles of Agreement of the International Monetary Fund"  from March 20, 2015 № 298-V.
According to the IMF Articles of Agreement, each State, increasing its quota, must pay 25% of the increase in the quota in the IMF. Payment of an amount equivalent to 75% may be carried out through the issuance of promissory notes.
In general, an increase of the quota in the capital of IMF, will provide further financial stability of the country, as Kazakhstan can count on the IMF credit line in the amount of three times of the volume of quota. The growing influence of Kazakhstan in the capital of the IMF has positive impact on improving the performance of the country rating and strengthen the position of the Republic of Kazakhstan in the voting structures of the IMF.