The International Monetary Fund (IMF) has sounded a cautionary note regarding Kazakhstan’s current inflation trajectory, emphasizing that price pressures are likely to remain significantly elevated in the medium term. Despite recent cooling measures, underlying factors such as global commodity price volatility, supply chain disruptions, and domestic demand recovery continue to pose substantial risks to inflation stability. The fund underscores the importance of a vigilant policy stance to anchor inflation expectations and safeguard economic resilience amid evolving global uncertainties.

In its latest assessment, the IMF recommends that Kazakhstan adhere to a tight monetary policy framework to contain inflationary pressures effectively. Key strategic priorities highlighted include:

  • Maintaining higher interest rates to…