ASTANA — Kazakhstan’s Mazhilis (lower house of the Kazakh parliament) has ratified a memorandum of understanding with the International Monetary Fund (IMF), formalizing the legal status of its Regional Capacity Development Center for the Caucasus, Central Asia and Mongolia in Almaty, Kazinform reported on April 1.
National Bank Chairman Timur Suleimenov. Photo credit: National Bank
The agreement, signed on Oct. 23, 2024, in Washington, governs the center’s operations, including the placement of its office in Almaty and the status of its staff in Kazakhstan. The move formalizes an institution that has already been operating in the country.
The IMF’s regional center was officially opened in Almaty in June 2023 with the participation of IMF Managing Director Kristalina Georgieva, marking a step toward strengthening regional economic expertise.
According to National Bank’s Chairman Timur Suleimenov, the memorandum sets out standard provisions governing the presence of international organizations. These include the center’s organizational structure, governance, participation procedures for training programs, and the immunities and privileges granted to the center and its employees.
“Hosting the IMF center contributes to Kazakhstan’s socio-economic development and strengthens national institutional capacity in economic policy and public administration,” Suleimenov said, adding that the center serves not only as a platform for consultations and seminars, but also as a strategic resource.
The center brings together nine countries with a combined population of around 100 million people and is part of the IMF’s global network. Its activities are expected to improve professional qualifications, enhance budget planning, strengthen statistical systems and forecasting, and support financial stability across the region.
Officials also see the initiative as a potential driver of business and educational tourism in Almaty, while providing opportunities for small and medium-sized enterprises.
The center has already been actively operating, hosting more than 615 events and training over 4,670 participants from across the region, including 1,370 from Kazakhstan.
At the initiative of the National Bank, additional seminars have been organized for Kazakh government agencies, focusing on macroeconomic analysis, macro-fiscal policy, economic growth and resilience.
