• KGS/USD = 0.01131 0%
  • KZT/USD = 0.00227 0%
  • TJS/USD = 0.09161 -0.11%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01131 0%
  • KZT/USD = 0.00227 0%
  • TJS/USD = 0.09161 -0.11%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01131 0%
  • KZT/USD = 0.00227 0%
  • TJS/USD = 0.09161 -0.11%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01131 0%
  • KZT/USD = 0.00227 0%
  • TJS/USD = 0.09161 -0.11%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01131 0%
  • KZT/USD = 0.00227 0%
  • TJS/USD = 0.09161 -0.11%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01131 0%
  • KZT/USD = 0.00227 0%
  • TJS/USD = 0.09161 -0.11%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01131 0%
  • KZT/USD = 0.00227 0%
  • TJS/USD = 0.09161 -0.11%
  • UZS/USD = 0.00008 0%
  • KGS/USD = 0.01131 0%
  • KZT/USD = 0.00227 0%
  • TJS/USD = 0.09161 -0.11%
  • UZS/USD = 0.00008 0%

Viewing results 1 - 6 of 68

Citizens of Kazakhstan Aren’t Being Detained at Borders with Russia, Ministry Claims

The Ministry of Foreign Affairs of Kazakhstan, Aibek Smadiyarov, is reassuring its citizens that they can safely visit Russia, stating that the relationship between the two nations is based on the principles of friendship, alliance, and strategic partnership, and are a model of multifaceted interstate cooperation. "We do not observe any problems on the Kazakh-Russian border. Our diplomats in Russia are constantly in contact with local authorities, the Ministry of Foreign Affairs, and the border service. Our citizens do not observe any mass detentions or document checks. If they have been stopped or had their documents checked, it is for security purposes," said Smadiyarov at the briefing. He also advised Kazakhstani citizens to observe Russian laws while in the country. Earlier, the foreign ministries of Tajikistan and Kyrgyzstan recommended that their citizens shouldn't visit Russia without good reason. These statements were made against the backdrop of a tightening on migration controls by the Russian authorities following the March 22 terrorist attack on the Crocus City Hall near Moscow. Since then, xenophobic attacks on migrants from Central Asia have been on the rise. According to currenttime.tv, 75% of cafes and restaurants run by Central Asian migrants in Moscow alone have shut since the incident due to police harassment.

Tajikistan and Kyrgyzstan May Swap Territories to Ease Border Tensions

In order to solve their long-running border demarcation dispute, Kyrgyzstan and Tajikistan may consider the option of exchanging territories. That's according to remarks made by Marat Imankulov, the Secretary of the Security Council of the Kyrgyz Republic, in an interview with state news agency, Kabar. According to him, the remarkable thing is that the border in the Batken region passes through difficult terrain, densely populated areas, bisecting streets, yards, and even houses. “Therefore, it should be separated. This is a difficult compromise. It is impossible without it. We have to give way. If necessary, the option of exchanging regions can be considered. Of course, there should be a preliminary agreement with local residents; that's how things are going now,” said Imankulov. The Secretary of the Security Council noted that each country has its own interests, but the parties are now looking for balance and compromise. Imankulov added that all border negotiations should proceed peacefully. Demarcation of the border has been a long-standing source of conflict between the two nations, it is emblematic of the problem that even the length of the border - sometimes cited as being 975-kilomtres long, and at others times 972-kilomteres - is rarely agreed upon. In January 2023, Tajikistan’s President Rahmon stated that 614-kilometres had been settled upon, backtracking on a previously stated figure of 664. In a sign of thawing relations, however, on November 9th 2023, the Cabinet of Ministers of the Kyrgyz Republic announced that a further 17.98 kilometers of the border had been agreed. With its scant natural resources and dwindling water supplies, the border between Kyrgyzstan and Tajikistan has been the scene of numerous skirmishes for many years. In 2014, all borders between Kyrgyzstan and Tajikistan were closed indefinitely to Kyrgyz and Tajik citizens following clashes over a bypass road in disputed territory; mortars were fired and both armies suffered casualties. Trouble spilled over again throughout 2021 and 2022, reportedly starting over a water dispute in the Vorukh enclave, and leaving an unknown number in the hundreds killed, and up to 136,000 people evacuated. In September 2022, another shooting took place on the border between the two countries.

National Bank of Kyrgyzstan Slashes Its Key Lending Rate, Explains Move Amid Weaker Inflation

Kyrgyzstan's national bank has lowered its discount lending rate by 200 basis points to 11%, from 13% previously. As reported by the Kyrgyz National Bank's press service, its monetary policy since the beginning of 2022 has focused on limiting the growth of inflationary pressures and ensured stabilization of price dynamics in the country, which led to slower price growth and bringing current inflation within the medium-term target and reducing the level of inflationary expectations of economic entities. Under these conditions, the National Bank decided to reduce the size of the discount rate to 11%. "Inflationary processes in the Kyrgyz Republic continue to weaken. The indicator of annual inflation in April 2024 amounted to 5.2 percent, down from 7.3 percent in December 2023, and is near the lower boundary of the medium-term monetary policy target of 5-7 percent. [Within] the structure of inflation, a pronounced slowdown in price growth is observed in the food group of goods (to 1.1 percent in April 2024 from 3.4 percent in December 2023), which is also influenced by the decline in prices in world food markets. The growth rate of prices for non-food goods and services is decreasing, with more restrained dynamics," explained the bank. In Kyrgyzstan economic activity is robust. Real GDP growth in the first quarter (January-March) of 2024 amounted to 8.8%. As before, the main contributions to economic growth came from the services sector, construction and manufacturing industries. Domestic consumption remains elevated, including at the expense of growth in consumer lending, and is helped along by an increase in net inflows of remittances into the country as Russia's acute worker shortage due to its war in Ukraine helps Central Asian migrant laborers. Despite the persistence of uncertainty in the external economic environment, there is a decrease in the intensity of the influence of external  inflationary factors, the National Bank said. "The country's banking sector remains stable and demonstrates growth of key indicators. In general, commercial banks have sufficient liquidity, which creates the basis for further lending to the real sector of the country. In the money market, short-term interest rates continue to be formed within the interest rate corridor set by the National Bank. The domestic foreign exchange market is stable. The adopted decision corresponds to the course of the National Bank's monetary policy, aimed at maintaining price stability in the country and creating conditions for macroeconomic stability," the central bank's press service summarized.

Wages in Uzbekistan Continue to Rise in Early 2024

According to the Uzbek Statistics Agency, as of the end of the first quarter of 2024, the average monthly nominal salary in Uzbekistan reached $389. This translates to an increase of almost 20% compared to the same period last year. Average wages are among the highest in the capital of Tashkent ($640) and the Navoi region ($514). Workers in the banking, insurance, credit and professional services spheres earn the most, at $1,043 per month. In the IT sector, Uzbeks earn $925 on average. The lowest wages are traditionally paid to workers in education and healthcare; in the first quarter of 2024, their salaries averaged $269 and $253, respectively. Since 2019, average salaries in Uzbekistan have increased from $183 to $389. For 2023, all Commonwealth of Independent  States (CIS) countries saw an increase in average monthly wages. The highest rates of growth were recorded in Armenia and Belarus. Average wages in the CIS countries in 2023 were as follows (based on state statistics): 1. Tajikistan - 2,013.11 somoni ($183) 2. Uzbekistan - 4.5 million som ($360) 3. Turkmenistan - 1,200 manat ($360) 4. Kyrgyzstan - 33,664 som ($376) 5. Azerbaijan - 942 manat ($550) 6. Belarus - 1,991.2 rubles ($616.50) 7. Armenia - 266,990 dram ($660) 8. Russia - 73,709 rubles ($805) 9. Kazakhstan - 393,605 tenge ($874)

Kyrgyz Authorities Promise Not to Persecute Human Rights Advocates Using Foreign Agent Law

Deputy Chairman of the Cabinet of Ministers of the Kyrgyz Republic, Edil Baisalov met with representatives of domestic non-governmental organizations (NGOs), where he assured participants that the new Foreign Agent's Law is not aimed at restricting the work of NGOs. All rights and freedoms have been preserved, and human rights defenders can participate in the political life of the country, Baisalov stated. "The only thing required is to be on the register. This requirement is common around the world. There will be no persecution; no restrictions on activities. We are interested in the activities of [NGOs] for the benefit of our country," Baisalov said. Earlier, the Times of Central Asia reported on human rights activists concerns regarding reputational risks, possible interference by government agencies in the work of NGOs, and the risk of mandatory financial audits. There were also questions about the implementation of new legislative guidelines, most of which, according to opponents of the law, are not viable. The Kyrgyz Ministry of Justice responded to an inquiry from the Times of Central Asia, with officials saying that bylaws and rule-making for the new law are in the works. However, more detailed information will be provided later, when the updates and amendments are submitted for public discussion. In early April, Kyrgyz President Sadyr Japarov signed the law "On Foreign Representatives," which sparked a wave of criticism from foreign organizations, foreign governments, and NGOs working in Kyrgyzstan.

Uzbekistan Moves to Speed Up Privatization of State Property

Uzbekistan's president Shavkat Mirziyoyev has signed a decree that will put up for auction shares in 247 state enterprises and 1,028 units of real estate. Initial public offerings (IPOs) and secondary public offering (SPOs) of 12 large enterprises are also to be held on the domestic stock market. The Uzbek government is planning various incentives to speed up the sales. For example, if an asset is not sold within three months of the auction opening, its value will be phased down to 10% of the starting bid price. Lessees of state property will be able to buy the assets under contract directly at the appraised value, and those who purchase privatized state assets in installments will be able to pay just 15% of the purchase price in the first three months, and the rest only within the next 10 years. Additionally, the privatization program provides for simplified sale of land plots located along international highways, as well as the sale and registration of land assets for the construction of commercial and service facilities along those roads. Earlier this year Mirziyoyev criticized the slow pace of property privatization in the country and noted that it could bring 20 trillion sum ($1.5 billion) to the national budget. According to Mirziyoyev, many enterprises have artificially inflated their valuations to avoid transferring state assets to private ownership. The Ministry of Health (39), Uzpromstroybank (27), the Ministry of Preschool and School Education (21), the Committee on Roads (17), the Ministry of Higher Education, Science and Innovation (14), Uzbek Postal Service [Pochtasi] (14), and the Ministries of Culture and Water Management (13 each) have the most unrealized assets that should be transferred to the docket for privatization. Thanks to the incentives, significant revenues are expected from the sale of land to entrepreneurs through the auctions, which last year generated 1 trillion sum ($78 million) in windfall for the state budget. Among the most significant objects privatized in recent years were the Kokand Superphosphate Plant, in which a foreign investor invested $40 million and increased production fourfold. Furthermore, the sale of state stakes in Ipoteka Bank ($324 million) and in Coca-Cola Uzbekistan ($252 million) netted significant cash injections for the government.

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