IMF pushes Kazakhstan to modernise monetary policy
Central bank urged to lay out plans for transitioning to inflation targeting
The National Bank of Kazakhstan should widen its exchange rate band as an "intermediary step" towards a more effective monetary policy framework, according to the International Monetary Fund (IMF).
The central bank devalued its currency by 19% against the US dollar in February. It now supports an exchange rate of 185 tenge to the dollar, tolerating deviations of up to three tenge in either direction.
The IMF believes the currency is now undervalued and, in a statement following the conclusion of
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