BAKU, Azerbaijan, December 15. The International Monetary Fund (IMF) positively assessed the work of the banking sector of Kazakhstan in 2022, Trend reports, citing the assessment report of the IMF.
The report was released as a part of the obligations assumed by Kazakhstan under the Article IV of the IMF.
“The banking sector has coped well with the fallout of international sanctions and ongoing progress in strengthening financial regulation and supervision is welcome,” the IMF stated.
The report issued by the Institution also favorably assessed the recent introduction of regular asset quality reviews and supervisory stress tests.
The IMF suggests that further strengthening the bank resolution framework will be important for Kazakhstan.
Under Article IV of the IMF's Articles of Agreement, the IMF holds bilateral discussions with members, usually every year. A staff team visits the country, collects economic and financial information, and discusses with officials the country's economic developments and policies.