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By introducing a new national currency in November 1993, the
Republic of Kazakstan took a decisive step towards establishing its
political and economic independence. In the following years,
Kazakstan made great efforts to lay the institutional foundation
for econonmic policy in line with a free market system. The
cooperation between Kazak experts and independent international
advisors such as the group of German econonmists under the
leadership of Lutz Hoffmann played an important role for the Kazak
government in choosing the most effective concepts and instruments
for economic policy. Thus, the main topic of this book is the
discussion of the macroeconomic problems during the first years of
transition and the role of international financial institutions, in
particular the International Monetary Fund.
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