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Monday, 27 October 2003

IMF TELLS KAZAKHSTAN TO REDUCE USE OF DOLLAR

Published in News Digest

By empty (10/27/2003 issue of the CACI Analyst)

The International Monetary Fund (IMF) has drawn up recommendations for Kazakhstan in the field of monetary policy, calling in particular for the country to reduce the role of the U.S. dollar in its economy.
The International Monetary Fund (IMF) has drawn up recommendations for Kazakhstan in the field of monetary policy, calling in particular for the country to reduce the role of the U.S. dollar in its economy. The IMF specialists who drew up the report said that reducing the use of the dollar will help Kazakhstan protect itself against crises in world markets, allow the country to establish its own currency policy more effectively, and help combat inflation. At the same time, the IMF warned the Kazakh leadership against taking overly harsh measures to reduce the number of dollars in circulation, such as closing dollar accounts in the country\'s banks or prohibiting the sale of dollars to individuals. (KazInform)
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