IMF Launches New Regional Center in Kazakhstan

BUSINESS TURKMENISTAN
IMF Launches New Regional Center in Kazakhstan
The CCAMTAC is the newest addition to the IMF’s global network of now 17 regional capacity development centers. (Photo: Reuters)

The inaugural Caucasus, Central Asia, and Mongolia Regional Capacity Development Center (CCAMTAC) steering committee met on last Thursday and endorsed the launch of the center starting Monday, as well as a work program for its first few months of operation.

The committee meeting follows the signing of the Letter of Understanding between the Governor of the National Bank of Kazakhstan Erbolat Dossayev and the IMF Managing Director Kristalina Georgieva on December 14, 2020, IMF said in its Monday press release.

The Center opened virtually ahead of its physical launch in Almaty. The CCAMTAC is the newest addition to the IMF’s global network of now 17 regional capacity development centers, according to the statement.

Based on a comprehensive assessment of member countries’ Capacity Development priorities, the CCAMTAC will host seven long-term advisors focusing on macroeconomic analysis, fiscal policy, monetary and financial sector, and Macroeconomic statistics.

The center will cooperate closely with IMF Headquarters and regional training centers, in particular the Joint Vienna Institute (JVI), Singapore Training Institute (STI) and China-IMF Capacity Development Center (CICDC), to maximize synergies between training, hands-on technical assistance, and peer exchanges.

Aliya Moldabekova, Deputy Chairperson of the National Bank of Kazakhstan and Chairperson of the inaugural steering committee meeting noted “that Kazakhstan will be honored to host the center in Almaty and looks forward to its physical opening and a close collaboration in the region”.

Director of the IMF’s Middle East and Central Asia Department Jihad Azour stressed “the IMF’s commitment to step up its strategic engagement with the region through the CCAMTAC, and to make it a center for innovation”.

The CCAMTAC is a collaborative venture between the IMF, member countries, including Armenia, Azerbaijan, Georgia, Kazakhstan, Kyrgyz Republic, Mongolia, Tajikistan, Turkmenistan, and Uzbekistan, and development partners.