Government reshuffles do not affect Kazakhstan's ratings

Standard & Poor’s (S&P) have kept Kazakhstan’s ratings and forecasts unchanged (ВВВ+/Stable/А-2) after the resignation of Prime-Minister Karim Massimov, Interfax-Kazakhstan reports citing the agency. “In our view, the reshuffles in the Cabinet and the new appointments that follow the appointment of Serik Akhmetov Prime-Minister will not have a significant effect of the efficiency, stability and predictability of the political solutions of Kazakhstan government and political institutes,” the message states. According to the agency, taking of political decisions is fully controlled by President Nursultan Nazarbayev and “frequent reshuffles in the government are a special feature of the president’s policy”. The analysts note that the reshuffles add no clarity to the issue of succession of the presidential power that is one of the factors limiting the sovereign ratings. “The President plans to stay in power in the nearest future and currently nobody threatens his powers. However, Mr. Nazarbayev’s successor is not appointed or identified yet,” the message states. Meanwhile, they believe that the country’s political stability may be broken in case Nursultan Nazarbayev leaves his post without appointing a successor. On September 24 Kazakhstan Majilis approved Serik Akhmetov for the position of Prime-Minister of Kazakhstan, while former Prime-Minister Karim Massimov was appointed head of the Presidential Administration.