IMF to set up Regional Capacity Development Center in Kazakhstan
BAKU, Azerbaijan, Dec.14
By Nargiz Sadikhova - Trend:
Managing Director of International Monetary Fund (IMF) Kristalina Georgieva and National Bank of Kazakhstan Governor Erbolat Dossaev signed a Letter of Understanding (LOU) toward the establishment of a regional capacity development center in Kazakhstan's Almaty city, Trend reports citing IMF.
Georgieva said that the agreement signed is a strong signal of the international community’s commitment to capacity development’s role in strengthening economies and improving people’s lives, as well as to a deep and durable engagement with the region.
The Caucasus, Central Asia, and Mongolia Regional Capacity Development Center (CCAMTAC) are expected to become a focal point for planning, coordinating, and implementing the IMF’s capacity development activities in the region in a wide range of areas, including hands-on bilateral technical assistance on macroeconomic and fiscal management, monetary operations, financial sector regulation, and supervision, statistics, and help in designing structural reforms.
The Center will also offer workshops and seminars to policymakers and other government agencies from the nine-member countries.
The signing of this LOU represents an important step toward the establishment of a regional capacity development center in Almaty and demonstrates the strong partnership and commitment between the IMF and its membership in using technical assistance to build economic institutions, as well as foster economic stability and inclusive growth.
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