In September, Kazakhstan’s foreign reserves contracted by 6.48% m/m (down by 14.57% ytd) to USD 24.2bn, the National Bank of Kazakhstan (NBK) has announced. Fx reserves amounted to USD 18.3bn as of Oct 1, while gold reserves amounted to USD 5.9bn. Net international reserves in September declined by 6.64% m/m (down by 14.85% ytd) to USD 23.6bn. The assets of the National Fund of Kazakhstan in September compared with the previous month increased by 1% (up by 15.32 % ytd) and amounted to USD 66.6bn.
A US investor backed by Overseas Private Investment Corporation (OPIC) might replace troubled China Energy Company Limited (CEFC) and take over 51% of KazMunayGas International ... more
The Asian Development Bank’s (ADB’s) Asian Development Outlook anticipates a general slowdown across the Central Asian region, with the exceptions of Uzbekistan, where the development bank ... more