Economics & Business

On the Nationalisation of Timur Kulibayev’s Bank

On the Nationalisation of Timur Kulibayev’s Bank

On July 20, 2020, the National Bank of Kazakhstan reduced the base rate to 9%per annum and narrowed the corridor to +/- 1.5 percentage points. One must give credit to Erbolat Dosayev and his team: having made a certain and, hopefully, positive gesture towards the market, they’ve taken care of themselves as well — as before, the rate for the liquidity withdrawal is to constitute 7,5%...

An Idea That Costs a Bundle

An Idea That Costs a Bundle

The Kazakh state tries to get involved in anything it can. And it often does so not for the benefit of the country but in the best interests of oligarchs and elite clans. And even though the Republic attempts to limit and divide the authorities of state agencies on a regular basis, it doesn’t do much good to anyone...

A Mindless Modernisation

A Mindless Modernisation

As late as a month ago, it seemed that the socio-economic crisis in Kazakhstan caused by the drop of the world oil prices and the coronavirus pandemics had passed its peak (if not ended). This understanding, among other things, was supported by the oil prices growth to about 40 $ per barrel and the abandoning of the emergency rule in the country...