Olzhas Bektenov and Deputy Managing Director of the IMF Bo Li discuss financial and economic cooperation issues, DKnews.kz reports
The Prime Minister of Kazakhstan Olzhas Bektenov met with the Deputy Managing Director of the International Monetary Fund Bo Li. The meeting focused on cooperating in the financial and economic areas.
Kazakhstan has been a member of the IMF since 1992. Long-term partnership with the Fund is important to ensure economic stability of the country and quality sustainable growth of the national economy.
The participants of the meeting emphasized the strategic nature of cooperation between Kazakhstan and the IMF.
Positive results of joint work on structural reforms, development of fiscal policy and financial market of Kazakhstan testify to the high importance of cooperation.
The opening of the IMF's Regional Capacity Development Center for the Caucasus, Central Asia, and Mongolia in Almaty last year gave new impetus to bilateral and regional dialogue on maintaining international financial stability.
It was noted that as a result of the systematic policy of the head of state on comprehensive modernization of the economy on September 9 this year Moody's rating agency upgraded Kazakhstan's sovereign rating to Baa1 with stable outlook.
The assigned rating is the highest for all years of the country's independence, and confirms the continued improvement of the institutional environment and the sustainability of the pace of economic diversification.
Olzhas Bektenov emphasized that the Government of Kazakhstan, together with the National Bank and the Agency for Development and Regulation of the Financial Market, intends to pursue a consistent policy aimed at achieving high-quality economic growth.
Ongoing reforms aim to further improve the effectiveness of fiscal policy, financial accountability and tax administration.
In turn, IMF Deputy Managing Director Bo Li noted that the Fund is committed to continuing the strong and constructive partnership with Kazakhstan aimed at growing Kazakhstan's economy and enhancing the welfare of its people.
To this end, regular policy advice on priority reforms and technical assistance provided by the IMF to the government agencies contribute to strengthening the institutional frameworks and private sector development.
At the end of the meeting, the parties confirmed their intention to strengthen the partnership across the entire spectrum of cooperation.
