The Republic of Kazakhstanas 2008 Article IV Consultation shows that banks have lost access to new external financing, credit extension has stalled, and growth has slowed. Nevertheless, Kazakhstan has considerable public financial resources to help it weather the current situation and the country is benefiting from high oil and commodity prices. A realistic assessment of the health of banks needs to be made and steps taken to mitigate risks, including by bolstering capital bases, strengthening bank supervision, and further developing the financial safety net framework.2/ Based on equilibrium in the housing market that the expected annual cost of home ownership equals the annual cost of renting. 3/ House price growth as a function of fundamentals (affordability ratio, income per capita growth, interest rate, and credit growth). Source: ... The primary channels linking the regiona#39;s economies are trade, workersa#39; remittances, and cross-border banking. The temporary bananbsp;...
|Title||:||Republic of Kazakhstan|
|Author||:||International Monetary Fund|
|Publisher||:||International Monetary Fund - 2008-08-18|