During a speech at the XII Astana Economic Forum in the city of Nur-Sultan, the Managing Director of the International Monetary Fund, Christine Lagarde, suggested creating a training center in Central Asia, reports ortcom.kz with reference to Kazpravda.kz
"I would like to mention the four most important areas in which improvement is possible. First, we believe that fiscal policy should provide a balance between debt containment and urgent initiatives in the field of healthcare, education infrastructure. In all these issues, you can increase productivity in these aspects. The IMF will continue to support this region through technical assistance and capacity development programs. In particular, we propose to create a training center in Central Asia ", said Christine Lagarde.
As the second direction, she mentioned the need to solve the problems of fighting against corruption in the region.
“Thirdly, women and other groups with insufficient representation can also strengthen their positions by further eliminating legal and economic obstacles. It is gratifying that women's participation in the labor force in Kazakhstan has now reached 65 percent thanks to the hard work of the Government and private companies," the speaker continued.
Lagarde noted that this is the highest level in the region and the gold standart for all countries in Central Asia.
“Fourth, the financial sector must be reliable and its services widely accessible. Because only 45 percent of the adult population have bank accounts in the countries of the Caucasus and Central Asia. This is almost 20 percent lower than the average in other emerging markets, and while only 3 percent of citizens have mobile money accounts. And these figures actually indicate an incredible, untapped resource in the region, ” - added the IMF Managing Director.
According to Lagarde, this resource is environmentally sustainable and can provide diversification with a decrease in the dominant role, which is directly related to the extraction of mineral resources.
"If Central Asia can use the opportunities of financial technologies, as the emerging market countries in other regions have done, this will significantly improve the situation of poor citizens, women and young people," she concluded. Let us remember that the 12th Astana Economic Forum is held in Nur-Sultan with the participation of the First President of the Republic of Kazakhstan - Elbasy Nursultan Nazarbayev. Experts, politicians, businessmen and scientists from 74 countries of the world take part in the forum.
