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Friday 9 April 2021

Kazakhstan to Join International Banking Settlements


  7 forum posts

NUR-SULTAN / ex ASTANA (NBK press service) — Within the framework of Spring Meetings of the International Monetary Fund and (ILF) the World Bank Group a conference call between the heads of the National Bank of Kazakhstan (NBK) Yerbolat Dosayev and the Bank of International Settlements (BIS) Agustin Carstens was held.

The parties discussed the macroeconomic situation, prospects of economic development of Kazakhstan, the implementation of anti-crisis measures and economic reforms, as well as issues of bilateral cooperation, including the introduction of digital currencies of central banks.

The National Bank of Kazakhstan expressed its intention to initiate the process of joining BIS. The key role of this organization on the global financial arena is to ensure monetary and financial stability, strengthen international cooperation and perform the function of a central bank.

In case of successful negotiations, Kazakhstan will become the first Central Asian country to join the BIS. Membership will provide access to another international platform and official forum for central banks to interact between BIS members — central banks, as well as in creating additional opportunities for international financial transactions, settlements and development of financial technologies.

As an organization of central banks, the BIS seeks to make monetary policy more predictable and transparent among its 60-member central banks, except in the case of Eurozone countries which forfeited the right to conduct monetary policy in order to implement the euro. While monetary policy is determined by most sovereign nations, it is subject to central and private banking scrutiny and potentially to speculation that affects foreign exchange rates and especially the fate of export economies. BIS aims to keep monetary policy in line with reality and to help implement monetary reforms in time, preferably as a simultaneous policy among all 60 member banks and also involving the IMF.

  Forum posts

  • They voluntarily put themselves in the mouth of the IMF wolf.

  • I work at the IMF and I can assure you that I don’t have the teeth of a wolf! On the other hand, it’s surprising from Kazakhstan because they are heading towards a monetary union with Russia and will therefore be in the same situation as the euro.

  • President Lukashenko provided strong information on the operation of the coronavirus action.

    He claims he got a $92 million offer to shut down the country and drive the nation to its bankruptcy. He was supposed to close the whole country on the exa…

  • Please, no such childish comments on this site. For that, go to Bitchute.

  • IMF = the Looting of the entire world so that a few can have what is yours. Turning each and every country into a broken shit hole to make yourself feel better than others.

  • The problem is that countries in need come knocking on the door of the IMF/WB to ask for money but at the same time they don’t want to comply with the rules of good management. If they are in trouble, it is because they were not managing well and if they continue with the same practices, the problem will always be there. The IMF is not a cornucopia.

  • Enough of those pragmatic brainwashed stuff. Check how agricultural sectors in many African countries were destroyed by these two institutions. Don’t fool the others, dude, maybe you are making a fool out of yourself.

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