NOV. 23 2015 (The Conway Bulletin) – Incompetent local administrations have delayed the Kazakh government’s centrepiece $9b Nurly Zhol infrastructure investment policy, Yerbolat Dossayev, Kazakhstan’s minister of economy, said. Nurly Zhol, which means bright path, was announced last year and was supposed to transform the Kazakh economy. It has failed to have an impact.
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(News report from Issue No. 258, published on Nov. 27 2015)
NOV. 20 2015 (The Conway Bulletin) – The IMF applauded Kazakhstan’s plans to sell off chunks of up to 50% in 43 high profile state-owned companies.
In a report, the IMF also said that ditching the tenge’s peg to the US dollar in August will push up inflation in the short term.
“The decision to float the exchange rate in August, followed by the introduction of a new policy interest rate (base rate) as the new monetary policy anchor in September, set in motion the process of modernizing the monetary policy framework,” the IMF said in its report.
Under pressure from depressed oil prices and a fall in the value of the rouble, the Kazakh Central Bank dropped its peg to the US dollar in August. The tenge plunged in value.
Strapped for cash, the Kazakh government said earlier this month that it wanted to sell off chunks of its biggest companies to private investors. The plan received a qualified endorsement from the IMF.
“We welcome these initiatives and the authorities’ objective of implementing the privatisation program competitively and in a way that ensures genuine private ownership and control,” it said.
The issue for investors is which stock market the government lists the shares on.
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(News report from Issue No. 258, published on Nov. 27 2015)
NOV. 25 2015 (The Conway Bulletin) – Tajikistan’s parliament passed a law which will make it legal for the authorities to switch off the internet during counterterrorism operations. The Tajik authorities regularly block access to social media and news websites which they say promote Islamic extremism, irritating free speech campaigners.
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(News report from Issue No. 258, published on Nov. 27 2015)
NOV. 20 2015 (The Conway Bulletin) – The warden in charge of the jail from which nine prisoners escaped last month has been found hanged in his cell, Radio Free Europe/Radio Liberty reported. Imankul Teltaev had been in pre-trial detention waiting for this trial on charges linked to the mass escape.
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(News report from Issue No. 258, published on Nov. 27 2015)
NOV. 23 2015 (The Conway Bulletin) – Tajik President Emomali Rakhmon is about to add another title to his growing list of names. Already called “His Excellency”, he will now add the moniker “Leader of the Nation”.
A group of deputies of the lower chamber of parliament have submitted a draft law proposing that Mr Rakhmon take this title.
One of the proposers of the bill, Abdurahim Kholikzoda told local media that the draft has been prepared because of a groundswell of support from ordinary Tajiks who want to honour their president and everything he has achieved.
“This is a tribute to the merits of the outstanding son of the Tajik people, President Emomali Rakhmon, and for his services to the country and the people of the country,” media quoted Mr Kholikzoda as saying.
Mr Kholikzoda has a track record of lavishly praising Mr Rakhmon. Once head of the State Religion Committee of Tajikistan, he called Mr Rakhmon “the sun” and “the star of happiness” earlier this year.
Many ordinary Tajik are suspicious, though, and suspect that Mr Rakhmon’s new title is a crude attempt to curry favour.
A Dushanbe resident called Farhod said: “We have the lowest economic development in the post- Soviet space, our migrants are dying in Russia, our families are freezing in areas without electricity or poisoned by carbon monoxide of coal, corruption is developed, and the list can go on.
“However, what are our MPs doing? They compete to invent such laws to get the attention of the President. I am speechless.”
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(News report from Issue No. 258, published on Nov. 27 2015)
NOV. 23 2015 (The Conway Bulletin) – Kazakh president Nursultan Nazarbayev signed into law changes to the country’s employment code that make it easier for companies to sack workers. The new law also makes industrial action harder to take. Businesses have said that the law is a necessary modernising step. Trade unions have said it is designed to undermine them.
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(News report from Issue No. 258, published on Nov. 27 2015)
NOV. 23 2015 (The Conway Bulletin) – Kazakhstan’s parliament approved a budget designed to both limit spending during a period of low oil prices and target a national deficit that has crept up to a 10-year-high.
Perhaps with this in mind, the sovereign wealth fund Samruk-Ka- zyna announced plans to cap pay and close 33 of its 36 overseas offices and the Central Bank said that it would slow work on building a state-of-the- art data centre in Astana.
The government’s budget for 2016-18 acknowledged that economic growth had stalled and would measure only 1.2% this year, its lowest rate since 2009 — the height of the Global Financial Crisis.
It also specifically wanted to target a deficit which has grown to around 3% of GDP, its highest in the past decade.
Presenting the government’s budget, PM Karim Massimov acknowledged the severity of the economic challenge.
“On December 8, the government will adopt an anti-crisis programme for the next three years. We will unite all previous economic programmes under a new umbrella,” Mr Massimov told the Senate.
President Nursultan Nazarbayev later confirmed he will address the nation on Nov. 30 on plans to tackle to the growing economic malaise.
The new budget forecasts oil prices to remain within the $40- 50/barrel range and the tenge to remain stable at around 300/$1.
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(News report from Issue No. 258, published on Nov. 27 2015)
NOV. 18 2015 (The Conway Bulletin) – Has Tony Blair, the former British PM, found himself a new client? Speculation that he was now advising the Georgian Dream coalition government spiked after he flew to Tbilisi for dinner with Georgian PM Irakli Garibashvili.
Mr Blair’s business outfit, Tony Blair Associates, declined to comment but the Georgians were more keen to show off their much-feted visitor.
The PM’s website hosted a 1.58 minute long video showing Mr Blair and Mr Garibashvili enjoying the view, and a glass of wine, from a restaurant above Tbilisi before taking a funicular ride back down to the city.
The Georgian PM’s office described the meeting as a “working dinner”.
“Georgia’s democratic reforms, the situation in the world and the region, were the main topics of the meeting,” the PM’s office said without giving any more information. Perhaps the emphasis should be on “working dinner”. It’s likely that Mr Garibashvili would have paid for Mr Blair’s advice. Plenty of other leaders, including Kazakh President Nursultan Nazarbayev, have.
And Mr Blair’s wife, a lawyer, is also involved in Georgia. Her company, Omnia Strategy, has been advising the Georgian justice system. It’s unclear exactly what advice, Mr Blair imparted. Although influential, his reputation is generally accepted to have been stained by the 2003 war in Iraq that he pursued with US President George W. Bush. Still, Georgia is an avowed fan of Mr Bush. It has named a street after him, and was one of his biggest allies during the wars in Iraq and Afghanistan.
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(News report from Issue No. 257, published on Nov. 20 2015)
NOV. 12 2015 (The Conway Bulletin) – Uzbekistan released Murod Juraev, a 63-year-old former MP, from prison after 21 years. He was jailed for allegedly plotting to overthrow the government, although human rights groups have said this is a fabrication. Observers linked Mr Juraev’s release to a visit this month to Uzbekistan by US Secretary of State John Kerry.
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(News report from Issue No. 256, published on Nov. 13 2015)
NOV. 6 2015 (The Conway Bulletin) – Two years before he steps down as Kyrgyzstan’s president, Almazbek Atambayev, said he wants the country to fully embrace the parliamentary model of governance. Analysts interpreted this as an attempt to shore up power for his Social Democratic party.
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(News report from Issue No. 256, published on Nov. 13 2015)
