IMF Says Kazakhstan Can Shield Currency From Devaluation
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The Kazakh central bank, which has faced questions about devaluing the national currency for a second time this year, can manage the tenge without putting it under “new stress,” the International Monetary Fund said.
“I don’t think a new devaluation will necessarily be a good thing,” Juha Kahkonen, deputy director of the IMF’s Middle East and Central Asia department, said yesterday in an interview in the Kazakh commercial capital of Almaty. “Certainly Kazakhstan has reserves to handle any short-term fluctuations.”