IMF Says Kazakhs Can Withstand Pressure on Tenge for Years

Kazakhstan’s central bank has enough cash to support the tenge as it takes steps to make the currency more flexible and protect consumers from a sudden devaluation, according to the International Monetary Fund.

The Central Asian country has sufficient international reserves to keep the tenge stable for several years “even if there’s strong pressure,” Juha Kahkonen, deputy director of the IMF’s Middle East and Central Asia department, said in an interview. “If the central bank chooses to keep the exchange rate unchanged, Kazakhstan has the reserves to do that.”