Christine Lagarde, Managing Director of the IMF, speaks at Nazarbayev University

On May 24, Christine Lagarde, Managing Director of the International Monetary Fund, spoke with NU staff and students on the current and prospective global and regional environment, as well as the challenges and opportunities for Kazakhstan, the Caucasus, and the Central Asia region.

Lagarde said that Kazakhstan needs to implement a new generation of reforms which will make Kazakhstan’s economy more productive. She said that the transition to a floating currency exchange rate and the entry of Kazakhstan into the World Trade Organization were the beginning of such reforms.

She stated that it is necessary to improve the monetary and fiscal framework policies and Kazakhstan needs to continue to work on improving transparency and efficiency in its institutions, as it affects investment attractiveness. She added that the more attention should be put intotechnical development, education and openness to the world economics.

Ms. Lagarde encouraged the younger generation of Kazakhstan to pursue knowledge, creativity and innovation, and she congratulated Kazakhstan on its 25th anniversary of independence.

The speech was recorded and the talk can be viewed by following this link: