site.news_by_theme Marchenko

Gregory Marchenko. Photo by Vladimir Dmitriyev©
European problems are no longer dominant: Marchenko

Gregory Marchenko answered the question whether the situation in Kazakhstan will be stable in 2012, considering the problems of the world market.

European problems are no longer dominant: Marchenko
Gregory Marchenko. Photo by Vladimir Dmitriyev©
Marchenko explained renewal of 5000 tenge banknote

Renovation of 5000 tenge note is related to introduction of a new series of banknotes called Samruk.

Marchenko explained renewal of 5000 tenge banknote
Gregory Marchenko. ©Vladimir Dmitriyev
Central Bank Governor on a possible global crisis

We are cautious when managing the assets and I believe the National Bank has been doing it with professionalism: Gregory Marchenko.

Central Bank Governor on a possible global crisis
Gregory Marchenko. ©Vladimir Dmitriyev
Central Bank Governor calls for a more concerted currency policy within the Customs Union

When speaking of the importance of a single policy, Mr. Marchenko pointed to the substantial difference in volatilities of national currencies of the Customs Union member states against the US Dollar.

Central Bank Governor calls for a more concerted currency policy within the Customs Union
National Bank Governor Gregory Marchenko. © Yaroslav Radlovsky
National Bank Governor reports to President Nazarbayev

According to Mr. Marchenko, deposits are growing, with deposits shifting from the US Dollar to the tenge.

National Bank Governor reports to President Nazarbayev
Gregory Marchenko. ©Vladimir Dmitriyev
National Bank to double the share of gold in gold and currency reserves

When it comes to domestic demand, the Kazakhs have been more interested in silver, according to Mr. Marchenko.

National Bank to double the share of gold in gold and currency reserves
Gregory Marchenko. ©Vladimir Dmitryev
Rumors of currency devaluation born in beauty parlors and taxis: Gregory Marchenko, Governor of the National Bank

According to him, with the current prices for commodities the tenge is posed to strengthen.

Rumors of currency devaluation born in beauty parlors and taxis: Gregory Marchenko, Governor of the National Bank
Gregory Marchenko. ©Vladimir Dmitryev
Kazakhstan capable of maintaining stability of the national currency: Central Bank Head

According to him, Kazakhstan’s exporters are in a better position than their Russian counterparts.

Kazakhstan capable of maintaining stability of the national currency: Central Bank Head
Gregory Marchenko. ©Vladimir Dmitryev
Speculative investors withdrew $3 billion from Kazakhstan in summer: Gregory Marchenko

According to him, the money had been invested to Kazakhstan’s instruments in February – May in hope for the tenge appreciation.

Speculative investors withdrew $3 billion from Kazakhstan in summer: Gregory Marchenko
Photo courtesy of deswal.ru
National Bank to exercise preemptive right to buy out all produced gold for 2-3 years to come

When commenting on the reasons behind the Bank’s decision to exercise its preemptive right to purchase Kazakhstan-produced gold, Mr. Marchenko pointed to lack of transparency in gold exports following the liberalization of the national market of precious metals.

National Bank to exercise preemptive right to buy out all produced gold for 2-3 years to come
Gregory Marchenko. © Yaroslav Radlovsky
It’s a pity emerging nations couldn’t agree on single candidate for the IMF managing director: Gregory Marchenko

According to him, if emerging nations don’t get prepared properly, the same thing may happen in 5 years’ time.

It’s a pity emerging nations couldn’t agree on single candidate for the IMF managing director: Gregory Marchenko
Gregory Marchenko. By Vladimir Dmitriev ©
Banks’ milder policies boost interest to retail loans: National Bank Governor Gregory Marchenko

The interest is coupled with pent up demand.

Banks’ milder policies boost interest to retail loans: National Bank Governor Gregory Marchenko
Gregory Marchenko. Photo by Vladimir Dmitriyev©
Salary raise for public sector employees may affect inflation: Kazakhstan’s National Bank Governor Gregory Marchenko

Salaries of public sector employees have been raised by 30% since July 1.

Salary raise for public sector employees may affect inflation: Kazakhstan’s National Bank Governor Gregory Marchenko
National Bank Governor Gregory Marchenko. Photo courtesy of profinance.kz
National Bank Governor Gregory Marchenko in favor of obligatory real estate insurance

According to him, the reason why insurance schemes are not popular is mentality of public at large.

National Bank Governor Gregory Marchenko in favor of obligatory real estate insurance
Gregory Marchenko. By Vladimir Dmitriev ©
I wouldn’t voice my thoughts on what I would do as IMF Head: National Bank Governor Gregory Marchenko

According to Mr. Marchenko, “a degree from a Kazakhstan’s university is enough to be a successful financier”.

I wouldn’t voice my thoughts on what I would do as IMF Head: National Bank Governor Gregory Marchenko
Gregory Marchenko. ©Vladimir Dmitryev
Don’t put all eggs in one basket: National Bank Governor Gregory Marchenko

According to him, it’s advisable to keep 50% of your savings in tenge with the other 50% kept in some other currency chosen at your own discretion.

Don’t put all eggs in one basket: National Bank Governor Gregory Marchenko
Gregory Marchenko. By Vladimir Dmitriev ©
20-25% in the State Pension Accumulation Fund to be floated through People’s IPO

As the National Bank Governor explained, the National Bank is to buy back the 10 per cent share from the European Bank of Reconstruction and Development (EBRD).

20-25% in the State Pension Accumulation Fund to be floated through People’s IPO
Gregory Marchenko. Photo by Yaroslav Radlovskiy©
Marchenko: Car prices will go down amid normal competition environment

It is very good, when there is a competitive environment and that creation of the Customs Union facilitates the market expansion: Gregory Marchenko.

Marchenko: Car prices will go down amid normal competition environment
Gregory Marchenko. ©Vladimir Dmitryev
Sales of foreign currency at currency exchange outlets on the rise: Central Bank Governor Gregory Marchenko

According to him, the growing demand for foreign currencies was mostly driven by mass purchases of previously owned cars imported to Kazakhstan for the period of mild customs duty from July 1,2010 to July 1, 2011.

Sales of foreign currency at currency exchange outlets on the rise: Central Bank Governor Gregory Marchenko
Gregory Marchenko. By Vladimir Dmitriev ©
Individual retail deposit amount guaranteed by the state to remain intact: Central Bank Chairman

Starting from 2012 the amount was to be reduced from KZT 5 million ($34.2 thousand) to KZT 1 million ($6.8 thousand).

Individual retail deposit amount guaranteed by the state to remain intact: Central Bank Chairman