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ALMATY (TCA) — Kazakhstan’s currency is in a very bad shape. There are various reasons for that, and although President Nazarbayev advises his citizens not to buy imported goods, people on the street feel the pinch and try to switch to dollars as much as they can. The crash in global prices of oil and other commodities has already brought Russia and Azerbaijan currencies to their lowest level losing more than 50%. Kazakhstan is not doing any better with the tenge moving, in about two years, from about 150 tenges per dollar to the incredible low level of close to 400 and the situation has much to do with the ever shifting National Bank policies. Continue reading
BISHKEK (TCA) — An International Monetary Fund (IMF) mission led by Mr. Edward Gemayel visited Kyrgyzstan during January 29 to February 4 to discuss recent economic developments, government policies and economic prospects in the context of a challenging regional environment. The discussions also prepared the ground for the second review mission under the Fund supported Extended Credit Facility, tentatively scheduled for April 2016, the IMF said. Continue reading
DUSHANBE (TCA) — An equivalent of up to US $50 million may be lost by Tajik families that receive money remittances from their relatives working in Russia and which are sent in Russian rubles, Avesta news agency reported. Continue reading
ASTANA (TCA) — Kazakhstan President Nursultan Nazarbayev has set the task to fully meet the country’s need for fuel with domestic oil products only by 2018, Novosti-Kazakhstan news agency reported. Continue reading
DUSHANBE (TCA) — In 2015 gold reserves of the National Bank of Tajikistan grew 40 percent and the total gold and foreign-currency reserves increased by 28 percent, National Bank Chairman Jamshed Nurmakhmadzoda told reporters in Dushanbe on January 26, Avesta news agency reported. Continue reading
DUSHANBE (TCA) — The National Bank of Tajikistan is drafting amendments to the country’s Criminal Code to introduce jail terms of up to nine years for "illegal hard-currency exchange operations," National Bank Chairman Jamshed Nurmakhmadzoda told reporters in Dushanbe on January 26, Avesta news agency reported. Continue reading
