In December, 1999 Kazakhstan hopes to accept new program of cooperation with IMF

/IRBIS, Oct.06, 99/ - According to REUTERS, which cites the minister of finance Uraz Dzhandosov, in December, 1999 Kazakhstan hopes to accept the new three-years program of cooperation with IMF, that will enable to receive the loans from international financial organizations. The world bank, proceeding from this program, already in this year will give a credit on the sum of about $175 million, which will directed to discharge of the budget-1999 deficiency. Dzhandosov optimistically evaluates an opportunity of the agreement with IMF, especially after the Kazakhstan parliament has accepted budget-2000 in the in the first reading in the last week. The negotiations with IMF were held in the last week. According to Dzhandosov, final approval of the budget project and negotiations with IMF concerning the social and economic policy will be the following steps of Government. "The only one question is to convince IMF of reality of tax collection", - Dzhandosov has told. Dzhandosov informed, that under the new three-years program IMF can give about $400 millions for support of the National Bank reserves. These means can be unclaimed by the National Bank and will remain as a "pillow". "It is important for us, that for private creditors this program is a certain fundament for trust", - Dzhandosov said. Kazakhstan in the last month placed Eurobonds on the sum of $200 million, that, in Dzhandosov opinion, is the positive factor, in spite this issue was more expensive for Kazakhstan, than previous. In this year the Government expects to receive three World bank loans, including $100 million of the second transh, which will directed to the pension reform support, state management reforming, and addressed social protection strengthening.