Kazakhstan, IMF mull co-op | Lao Tribune

Kazakhstan, IMF mull co-op

Kazakhstan’s President Nursultan Nazarbayev and Managing Director of the International Monetary Fund Christine Lagarde, who is on a visit in Astana, discussed main areas of cooperation, as well as key trends in the development of global financial and economic system, Kazakh president’s press service announced.

Nazarbayev said that currently, Kazakh economy is experiencing difficult times.

Among the reasons, Nazarbayev named decline in commodity prices, delay of structural reforms, which are being implemented, as well as the situation with Russia and the economic situation in China.

“Despite this, we didn’t allow the GDP to decrease and provided its positive dynamics, which we hope to maintain this year,” noted Kazakh president.

“Our country has implemented measures for six years to reduce the economy’s dependence on raw materials,”he said.

Lagarde, in turn, thanked Nazarbayev for the established partnership with the IMF, within which Kazakhstan continues to receive the necessary support, including technical support.

She said that the IMF supports the reforms implemented by Kazakhstan on the country’s economic, industrial and infrastructural development.

Lagarde arrived in Kazakhstan to take part in an IMF regional conference, which is to be held May 24 within the Astana Economic Forum.

Source: Trend