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ASTANA (TCA) — Kazakhstan faces new challenges due to the decline in commodity prices and the slowdown of key regional economies. The Kazakh authorities have taken steps to address these challenges, notably floating the tenge, which will help the economy adjust. Going forward, it will be important to modernize policy frameworks, create more efficient and transparent institutions, and deepen Kazakhstan’s into regional and global markets, Christine Lagarde, Managing Director of the International Monetary Fund (IMF), said in her statement on May 24 at the conclusion of her visit to Kazakhstan. Continue reading
LONDON (TCA) — It is almost two years now that Belarus, Kazakhstan, and Russia proceeded with the formation of the Russian-led Eurasian Economic Union (EEU), a step forward from their Customs Union. Armenia and Kyrgyzstan afterwards joined the Union, and as things stand today the EEU is consolidating and trying to transform the principles that hold it together from just good will into a well-regulated system. Continue reading
BISHKEK (TCA) — The President of the European Bank for Reconstruction and Development (EBRD), Sir Suma Chakrabarti, is visiting three Caspian states next week. Continue reading
TASHKENT (TCA) — Investors from South Korea in 2016 and 2017 will acquire 15-percent stakes in two large joint-stock commercial banks in Uzbekistan — Uzpromstroibank and Asaka Bank, Novosti Uzbekistana news agency reported. Continue reading
ASTANA (TCA) — Banks in Kazakhstan will get 200 billion tenge (more than $610 million) from the Common Saving Pension Fund to on-lend the money to domestic businesses, Novosti-Kazakhstan news agency reported with reference to the country’s National Bank. Continue reading
ASTANA (TCA) — Public procurement specialists from across Europe and Central Asia gathered in the Kazakh capital Astana on May 17 to share experiences and best practices in public procurement reforms. They discussed and promoted cross regional cooperation in public procurement and good governance at the 12th Procurement, Integrity, Management and Openness (PRIMO) Forum, the World Bank reported. Continue reading
