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ALMATY (TCA) — State officials in oil crisis-hit Kazakhstan have discovered a $20 billion hole on the balance sheet of the National Wealth Fund. Should the state funds be spent this way on, the state coffers will be empty before the end of this decade. A political crisis is looming. In a move to avoid it, the Parliament has applied for snap elections to be held as early as March this year. Continue reading
ALMATY (TCA) — Kazakhstan’s chief banker has said the National Bank of Kazakhstan is not planning any restrictions on operations with cash foreign currency in the country, Novosti-Kazakhstan news agency reported. Continue reading
ASHGABAT (TCA) — On January 12 the Central Bank of Turkmenistan published on its website a press release on introducing restrictions on free currency exchange in the country. The announcement for print media, however, was offered only in the Turkmen language. The press release is not available on the Russian or English versions of the website. Below is the translation of the announcement, made by the independent website Chronicles of Turkmenistan. Continue reading
ALMATY (TCA) — The National Bank of Kazakhstan said that the country’s international reserves, including gold and foreign currency reserves of the National Bank and assets of the National (Oil) Fund, in 2015 decreased by 10.6 percent, from US $102.452 billion down to $91.581 billion. Continue reading
BISHKEK (TCA) — Small and medium enterprises account for around 40 percent of GDP in Kyrgyzstan, Deputy Economy Minister of Kyrgyzstan Daniyar Imanaliyev said at the January 13 roundtable on the development of small and medium business, said the press service of the Economy Ministry. Continue reading
BISHKEK (TCA) — On January 12 the National Bank of the Kyrgyz Republic issued licenses to Kompanion Bank CJSC to conduct banking operations in national and foreign currencies. Continue reading
