Category Archives: Uncategorised

Azerbaijan’s GDP to drop, says IMF

SEPT. 13 2016 (The Conway Bulletin) – The IMF published a report on the state of Azerbaijan’s economy, forecasting a GDP contraction of 2.4% in 2016. The IMF said that lower oil prices, weak regional growth, currency devaluations, and lower hydrocarbon production have impacted Azerbaijan’s economic performance. In its report, the IMF said Azerbaijan’s GDP will resume growth in 2017.

ENDS

(News report from Issue No. 296, published on Sept. 16 2016)

Court charges with espionage former Kyrgyz PM’s son

SEPT. 10 2016 (The Conway Bulletin) – A court in Bishkek sentenced Altynbek Muraliyev, son of former Kyrgyz PM Amangeldi Muraliyev, to 22 years in prison for treason and espionage, toughening its previous sentence of 12 years in prison. Muraliyev was arrested in November 2014, while attempting to flee Kyrgyzstan. The National Security Service said he had given classified information to foreign governments.

ENDS

(News report from Issue No. 296, published on Sept. 16 2016)

Tajikistan’s trade turnover drops

SEPT. 15 2016 (The Conway Bulletin) – Tajikistan’s foreign trade turnover in Jan.-Aug. 2016 fell by 7.6% compared to the same period last year, on account of lower imports, Tajikistan’s Central Bank said. Tajikistan exported goods worth around $600m, a decrease of 1.9% compared to last year. Notably, Tajikistan imported less than $2b- worth of goods in the first eight months of the year, a 9% decline compared to 2015.

ENDS

(News report from Issue No. 296, published on Sept. 16 2016)

Currency booths start selling US dollars again in Azerbaijan

BAKU, SEPT. 15 2016 (The Conway Bulletin) – Currency exchanges in Azerbaijan have started selling US dollars once again after the Central Bank sold $300m and increased interest rates to their highest level since 2008 to support the manat.

The near-emergency measures were taken last week after currency booths stopped selling US dollars because of a lack of confidence in the Azerbaijani manat which had lost 11% of its value since the start of June. Confidence in the manat was destroyed last year when two devaluations wiped 50% off the value of the currency.

Azerbaijan’s economy is reliant on oil for its revenues and the government has been slashing projects to account for the drop in revenues. Even so, economists forecast a GDP drop this year.

“There is a crisis in every single sector of the economy, starting from trade, ending in construction, agriculture, and services,” Zohrab Ismayilov, a Tbilisi-based Azerbaijani economist told The Conway Bulletin.

And this is being felt at street level where jobs have been lost, savings cut in half and prospects diminished. Earlier this year a series of protests across the country, unusual in Azerbaijan where the security forces normally maintain a tight grip, shook the government.

Rashad, 31, the owner of a small catering business in Baku, told the Conway Bulletin that like most Azerbaijanis he has had to resort to using the Black Market to exchange manat into US dollars.

“I had to have dollars and at the weekend I could not find an open bank which has a running exchange service. So, I found a friend who knows an illegal exchange place and did my exchange there,” he said.

And the economy is tightening.

“Because of the economic situation, companies are cutting their costs and the market is becoming too narrow,” he said.

Mr Ismayilov, the economist, said that the Azerbaijani government could only prop up the currency for so long.

“Everybody now expects the third devaluation,” he said.

“It is very likely to happen by the end of this year. And it will be a big blow to the economy.”

ENDS

(News report from Issue No. 296, published on Sept. 16 2016)

Ministers resign in Georgia

SEPT. 14 2016 (The Conway Bulletin) – Two ministers linked to the ruling Georgian Dream party resigned ahead of the October election to comply with eligibility requirements. Otar Danelia, minister of agriculture, and Kakha Kaladze, minister of energy, resigned to run as high-profile candidates in the Georgian Dream ranks. Under Georgia’s election rules, ministers have to resign to run.

ENDS

(News report from Issue No. 296, published on Sept. 16 2016)

Georgia’s President appoints new judges

SEPT. 10 2016 (The Conway Bulletin) – Georgia’s President Giorgi Margvelashvili named Irina Imerlishvili, secretary of the National Security Council, and Giorgi Kverenchkhiladze, former parliamentary secretary of the President, as new judges at the Constitutional Court. Soon after the upcoming election, Parliament and the Supreme Court are also due to nominate two new judges, which could significantly change the makeup of the 9- seat Court.

ENDS

(News report from Issue No. 296, published on Sept. 16 2016)

Kazakh President wants new housing deal

ALMATY, SEPT. 9 2016 (The Conway Bulletin) — Kazakhstan’s government adopted a new programme to improve access to housing, in an effort to curb protests against proposed land reforms that swept the country earlier this year.

The new programme, called Nurly Zher (‘Bright Land’), will, it is planned, put into action plans laid out in 2003 to give 1,000 square metres of land to every Kazakh citizen.

Kazakhstan’s President Nursultan Nazarbayev told ministers at a government meeting that without infrastructure, the land parcels would be useless to people.

“We told people we would give them 1,000 square metres to build houses. Now people demand this land. But across our vast steppe there are no roads, electricity, water and heat infrastructure,” Mr Nazarbayev said.

Kazakhstan is the ninth biggest country in the world but has a population of just 17m people.

The Nurly Zher programme will spend $71m building infrastructure — roads, water, electricity — to try and attract development.

It has also said that it will subsidise the building of new housing by up to 30% and ensure that banks give cheap loans out to developers.

But it also drew criticism from people who said that Mr Nazarbayev had diluted the original plan.

“Through this program we will finally have infrastructure for lands. However, people will now be forced to buy houses with mortgages despite the fact that the land is free,” said Daniyar Kankozha, an IT worker.

Land reform and housing are sensitive issues in Kazakhstan. Earlier this year, protests spread around the country after plans were unveiled that would have given foreigners
more rights to own land.

ENDS

(News report from Issue No. 296, published on Sept. 16 2016)

Pakistani police arrests Kazakhs

SEPT. 13 2016 (The Conway Bulletin) – Pakistan’s police arrested two Kazakhs for violating their visa conditions, as they had overstayed their permits after joining an Islamic school linked to Tablighi Jamaat. Tablighi Jamaat is banned in Kazakhstan and considered an extremist organisation. Tablighi Jamaat schools span India, Pakistan and Bangladesh.

ENDS

(News report from Issue No. 296, published on Sept. 16 2016)

ITF bannes corrupt Uzbek officials

SEPT. 14 2016 (The Conway Bulletin) – The International Tennis Federation banned for life two Uzbek officials for betting offences. The two officials, Sherzod Hasanov and Arkhip Molotyagin,communicated via mobile phone the scores of games they were officiating to a third party, before recording them into the official electronic score- board, allowing illegal betting.

ENDS

(News report from Issue No. 296, published on Sept. 16 2016)

World Bank finances Uzbek textile factory

SEPT. 13 2016 (The Conway Bulletin) – The International Labor Rights Forum published a report corroborating claims that the World Bank could be inadvertently financing a textile factory involved in forced labour practices. The report, which follows a petition in July sent by human rights activists directly to the World Bank, targets specifically an Uzbek-Indonesian joint venture, Indorama Kokand Textile. The World Bank had previously denied the allegations, saying it only deals with forced labour-free companies.

ENDS

(News report from Issue No. 296, published on Sept. 16 2016)