IMF approved $453 mln new three year program of loan support of Kazakhstan

/IRBIS, Dec.15, 99/ - ITAR-TASS informs International monetary fund /IMF/ approved a new three year program of loan support of Kazakhstan for a total of 435 mln dollars. Astana can get 35 mln first tranche of this loan immediately. Then, financing will depend on the progress of financial and economic plans coordinated by the experts of the Fund and Kazakhstan. This plan provides for resuming the economic growth in 2000 at 3%, and 3.5% and 4% thereafter. Inflation is to be reduced next year down to 9% from double digit figures of this year. The economic policy of Kazakhstan in post Russian crisis period has been highly evaluated by the managers of IMF. The Fund suggested Kazakhstan to adhere to strict fiscal policy, improve tax collections and maintain floating exchange rate of the national currency. The decision to resume the cooperation came just before the visit of the country's president Nursultan Nazarbaev to Washington.