The Prime Minister of Kazakhstan

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High-level debate at AEF: IMF proposes to open regional technical assistance center in Kazakhstan

16 May 2018, 16:20
Astana
Photo: primeminister.kz

Today in Astana on the eve of the opening of the XI Astana Economic Forum, Prime Minister Bakytzhan Sagintayev took part in the high-level Discussion within the framework of the regional meeting of the IMF and the National Bank.

Addressing the participants of the round table, B. Sagintayev noted that this year the forum is held as the Global Challenges Summit, which is connected with the fundamental changes occurring all over the world.

The world is changing rapidly under the influence of the technological revolution. And this global transition requires all countries and governments, corporations and business, to maintain advanced cooperation in the most breakthrough areas of global change.

Kazakhstan supports the development of the global Belt and Road Initiative and is ready for full-fledged international cooperation on this project, said Bakytzhan Sagintayev.

Since the end of 2015, Kazakhstan has been the official member of the World Trade Organization. This is an opportunity for our country to transform from the leader of the Central Asian region into the largest participant of the global economic process.

The Government of Kazakhstan is ready to promote the dissemination of best practices and exchange of experience with the IMF, with the countries of the Caucasus and Central Asia in all these areas.

In the course of the discussion, the readiness of the countries for integration and cooperation, the use of opportunities and avoidance of risks, as well as the vision of modern macroeconomic, financial and structural policies that meet the national interests of the states of the region, were discussed.

The Deputy Managing Director of the IMF, T. Zhang, also addressed the participants of the discussion with a welcoming speech.

The presentation of regional and global integration was held by the IMF. First Deputy Governor of Da Afghanistan Bank, W. Nosher, Deputy Prime Minister of the Republic of Armenia, V. Gabrielyan, Chairman of Central Bank of Uzbekistan, M. Nurmuratov, Managing Director of the European Bank for Reconstruction and Development, M. Romani, Chairman of the Board of the Eurasian Economic Commission, T. Sarkisyan, Deputy Managing Director at the IMF, T. Zhang, Director General for Central and West Asia Department at ADB, W. Liepach, Chief Economist for Europe and Central Asia Region of the World Bank, Mr. H. Timmer, and others participated in the dialogue and exchange of views on the most diverse areas of the global economy and the challenges of our time.

A question was raised on the opening of a regional center for technical assistance to the IMF in Kazakhstan. As is known, earlier, in May 2017, the IMF's initiative to create an IMF technical assistance center for the Caucasus and Central Asia in Kazakhstan was announced by the Director of the Middle East and Central Asia Department at the IMF, Mr. Jihad Azour.

This initiative reflects the close relationship between Kazakhstan and the IMF and underlines the important strategic role of Kazakhstan in the region for promoting world standards in the field of technical assistance.

 

For reference: the IMF was established on December 27, 1945 with the aim of regulating the monetary and credit relations of the member states and assisting them in the payment balance deficit by providing short- and medium-term loans in foreign currency. The IMF serves as the institutional foundation of the world monetary system.

Members of the IMF are 189 countries. Kazakhstan became a member of the IMF on July 15, 1992. Since autumn 2010, Kazakhstan has been a member of the Swiss IMF subgroup (previously Kazakhstan was part of the Belgian subgroup), which also includes Switzerland, Poland, Serbia, Azerbaijan, Kyrgyzstan, Turkmenistan and Tajikistan.

 



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