MARCH 11 2015 (The Bulletin) – Religious leaders in Kyrgyzstan issued a statement saying that it was not un-Islamic to vaccinate children against the measles virus, the Eurasianet website reported. This is important because health experts have blamed fears vaccinations were anti-Islamic for a surge in measles in Kyrgyzstan
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(News report from Issue No. 222, published on March 11 2015)
MARCH 6 2015 (The Bulletin) – According to a recent publication by the Kazakhstan/Russia-funded Eurasian Development Bank (EDB), foreign investment in Kyrgyzstan in 2014 measured only $187m, down by 70% from 2013.
In 2013, the Central Asian country received over $623m in foreign direct investment (FDI), mainly from China, Russia, Britain, and Canada.
The EBD said the macroeconomic downturn which began in early 2014 was the main reason for the reduction of foreign activity. The recurring threat of nationalising the gold mine at Kumtor, together with monetary issues and galloping inflation, are also all factors.
The Kyrgyz government has tried to remedy the situation by increasing interest rates above 10% and protecting the national currency, the som, from the financial strains common throughout the region. Although it has performed better than the rouble, the som has lost over 20% against the dollar in the past six months.
FDI is a lifeline for countries like Kyrgyzstan, which rely on remittances from migrant workers abroad and capital injections from foreign investors.
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(News report from Issue No. 222, published on March 11 2015)
MARCH 2 2015 (The Conway Bulletin) -Citing Kyrgyzstan as one of the countries worst affected by a surge in measles, the World Health Organisation (WHO) called for a mass vaccination to prevent the disease spreading. WHO said Kyrgyzstan had 7,477 new measles cases since the start of 2014, out of 22,000 recorded in the Europe region.
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(News report from Issue No. 221, published on March 4 2015)
FEB. 26 2015 (The Conway Bulletin) – Kyrgyz lawmakers are likely to vote on a bill that will criminalise promoting gay relationships in the next few weeks, the AFP news agency reported. The law is similar to Russian legislation that has attracted worldwide condemnation and, if passed, would possibly isolate Kyrgyzstan further from the West.
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(News report from Issue No. 221, published on March 4 2015)
FEB. 27 2015 (The Conway Bulletin) – Kyrgyz parliamentarians threatened to nationalise the Kumtor gold mine by the end of March unless its Toronto-listed owner, Centerra Gold, agreed to a new joint-venture to run it.
The ultimatum increases the stakes in the long-running battle for control of the gold mine — Kyrgyzstan’s single biggest economic asset.
“We should finally end this epic,” Reuters quoted parliamentary speaker Asilbek Zheenbekov as saying after the parliamentary vote. “Today we adopted a tough resolution.”
The row over Kumtor has dented both productivity at the gold mine based in the eastern mountains of Kyrgyzstan and the country’s GDP as well as its image as a place for foreign investors to set up businesses.
Centerra Gold has accused Kyrgyz nationalists of wiping up public anger against Kumtor through bogus environmental infringements. Kyrgyzstan has said Centerra Gold needs to run and manage Kumtor more effectively.
The Kyrgyz government wants to swap its 32.7% stake in Centerra Gold for a 50:50 joint venture with the company directly in Kumtor. Commenting on Centerra Gold’s full year results last month, its CEO, Ian Atkinson, said he was studying the proposal. This non-commitment may be the source of the frustration felt by Kyrgyz lawmakers.
Now, the issue of Kumtor’s ownership will once again move to the foreground, potentially destabilising the country and damaging for its reputation further.
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(News report from Issue No. 221, published on March 4 2015)
MARCH 2 2015 (The Conway Bulletin) – IS and other radical Islamic groups have turned southern Kyrgyzstan into a rich recruitment grounds, the head of the Kyrgyz National Security Committee, Rakhat Suleimanov, said. Some Western analysts, though, have questioned the veracity of these claims saying that they allow the security services to clamp down on dissent.
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(News report from Issue No. 221, published on March 4 2015)
FEB. 19 2015 (The Conway Bulletin) — In its annual report, the Toronto-based Centerra Gold said that its Kumtor mine in eastern Kyrgyzstan produced 10% less gold in 2014 than it did in 2013.
Kumtor is not only important to Centerra Gold, which also has other assets, but is also vital to the economic health of Kyrgyzstan. It is the country’s largest single asset and contributes around 10% of its total GDP.
Already reeling from the fallout from Russia’s sanction-hit economic slowdown, the news from Centerra Gold that, although expected, gold production at Kumtor had fallen will be a another big blow to Kyrgyzstan.
Centerra Gold said gold production in 2014 was around 620,000 ounces, down from 690,000 ounces.
Kumtor has been a headache over the past few years. Kyrgyzstan wants to assume more control over the gold mine, while Centerra Gold has been fighting to retain its share.
Strikes and protests caused part of the drop in production at Kumtor.
Centerra Gold CEO, Ian Atkinson said of negotiations with the Kyrgyz government over Kumtor ownership: “We are in the process of negotiating the definitive agreements to implement the restructuring as described in the Heads of Agreement signed on January 18, 2014 and are continuing discussions with the Kyrgyz Government in this regard.”
Kyrgyzstan wants to swap its 32.7% stake in Centerra Gold for a 50:50 joint venture in Kumtor directly.
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(News report from Issue No. 220, published on Feb. 25 2015)
FEB. 24 2015 (The Conway Bulletin) — Kyrgyzstan’s Central Bank left its key interest rate unchanged at 11% despite inflationary pressure from a devaluing currency and falling remittances from workers based in Russia. In February, Kyrgyzstan’s inflation was measured at 10.9%.
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(News report from Issue No. 220, published on Feb. 25 2015)
FEB. 18 2015 (The Conway Bulletin) — Russia’s military will equip its Kant airbase in Kyrgyzstan with up-to-date fighter-jets, media quoted Colonel Jaroslav Roschupkin, a Russian army spokesman, as saying. Russia has, generally, been looking to beef up its military deployments in Central Asia, especially at the Kant airbase.
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(News report from Issue No. 220, published on Feb. 25 2015)
FEB. 20 2015 (The Conway Bulletin) — The Kyrgyz government said it was once again putting its second largest gold mine, Jerooy, up for sale by tender despite a failed attempt to sell it in 2013 for $300m. The Jerooy mine is also the subject of a $549m arbitration suit filed by its former owners, the Kazakh investment fund Visor Holdings.
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(News report from Issue No. 220, published on Feb. 25 2015)
