Kazakhstan has increased its share in the IMF authorized capital

Almaty. May 20. Silkroadnews – Kazakhstan has increased its share in the authorized capital of the International Monetary Fund (IMF), KazTAG reports with reference to the National Bank of Kazakhstan.

“According to public data, Kazakhstan’s share in the authorized capital of the Fund increased from 365.7 million SDR (special drawing rights – Silkroadnews) to 1158.4 million SDR in 2015,” the information states.

Deputy chairman of the National Bank of Kazakhstan Galymzhan Pirmatov says increasing Kazakhstan’s quota in the IMF capital strengthens the country’s position, including share in the IMF voting structures.
“It also provides more opportunities for the IMF technical assistance to the Republic of Kazakhstan,” he said.

The deputy head of the National Bank also reminded Kazakhstan does not plan getting financial loans from the IMF, but will continue to cooperate on technical assistance issue. In particular, in 2014 the National Bank of Kazakhstan applied to the IMF for technical assistance provision within the transition to inflation targeting regime – namely, on the use of monetary policy instruments and analysis and forecast system improvement.

“The IMF unites representatives of various central banks with experience in the monetary policy analysis. (...) In future we will be glad to cooperate to improve the existing forecast and analysis system in monetary policy decision-making process,” G. Pirmatov said.