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ALMATY (TCA) — The year 2015 is bound to stay on people’s memories in Kazakhstan as the year everybody expected the curtain to fall – on people’s heads, that is. The current year, with the country’s national currency held by the fortunes of a ghost that keeps refusing to return into its bottle, unless cash flows are restored to durable levels. To allow this to happen, the government has resorted to what remarkably looks like Russia’s notorious stock-for-loans scheme worked out by the tandem Gaidar/Chubais in the mid-1990s. Will it work out this time? Continue reading
TASHKENT (TCA) — The gross domestic product (GDP) of Uzbekistan is expected to grow by 7.5 percent in 2016, according to the World Bank’s Global Economic Prospects published on January 6, the Jahon information agency reported. Continue reading
BISHKEK (TCA) — The Asian Development Bank’s (ADB) operations—comprising approvals of loans and grants, technical assistance, and co-financing—reached an all-time high of $27.15 billion in 2015, an increase of about 19% over the $22.89 billion in 2014, the ADB said. Continue reading
BISHKEK (TCA) — Defending the frontier with Afghanistan has become top priority for the three former Soviet republics bordering it in 2015. Whether that frontier could become a frontline or not depends on how much the other two are ready to contribute and how much stability they can maintain to do so. For Kyrgyzstan, the year 2015 is most likely to go into history as the year of the new revolution that never happened and the remarkable survival and strengthening of its parliamentary rule. It was, remarkably, much due to the personal input of President Atambayev, who is behind the party that has the largest faction in both the previous and the new parliament, that dark prophecies of “destabilisation” and “economic failure” failed to materialize, making Kyrgyzstan’s model go in the direction of the French than e.g. of the British one. Given the geopolitical and economic challenges in the region, this may well be a favourable option. Continue reading
ALMATY (TCA) — Kazakhstan's national currency, the tenge, has reached a new low against the US dollar. Continue reading
BISHKEK (TCA) — Economic growth could resume modestly in Central Asia if there is a stabilization of commodity prices, according to the World Bank’s January 2016 Global Economic Prospects. Continue reading
