IMF allocated over $ 1.5 bn to Kazakhstan
Photo © Adilbek Tauekelov / Kazpravda.kz
The International Monetary Fund allocated 1.57 billion US dollars to Kazakhstan, Kazpravda.kz refers to the press service of the National Bank of Kazakhstan reporting.
"On August 23, the resolution of the Board of the IMF Governors took effect on the general distribution of special drawing rights (SDR) in the amount equivalent to 650 billion US dollars (about 456 billion of SDR). Kazakhstan was allocated 1.11 billion SDR in the amount equivalent to 1.57 billion US dollars," it is reported.
As noted, the eleventh distribution is the largest distribution of SDRs in the history of the IMF, which, according to experts, will help improve sustainability and stability of the world economy.
"The IMF decision on the distribution of SDRs was made in order to provide additional liquidity to the global economy to finance the long-term needs of the IMF member countries. The allocation of these funds will also stimulate recovery of the world economy after the pandemic," the National Bank explained.