Kazakhstan’s Central Bank buying out all gold producedAs a rule, prices for gold grow amidst growing demand (…) the latter is normally driven by volatility of major currencies. Currently, the keen interest to gold is assigned to the weakening Euro. Gold is seen as a stable harbor: Minister for Investments.
Kazakhstan’s Central Bank Governor on tenge prospectsAccording to him, back in 2014 the country’ economy accumulated certain margin of safety. The country’s gold and FX reserves reached $102 billion, including $73 billion with the National Oil Fund.
Kazakhstan considers de-dollarizing its economyKazakh economist Olzhas Khudaibergenov analyzes the joint statement of the Government and the National Bank of Kazakhstan and comments on their intention to de-dollarize the Kazakh economy.
Tenge devaluation cannot be ruled out in Kazakhstan: expertAnalyst of Alpari company believes the National Bank of Kazakhstan is maintaining the tenge exchange rate at this point, but certain conditions might require devaluing in the future.
Central Bank Governor on Toxic Assets FundAccording to him, the money will only be provided to banks that have accumulated the most of NPLs. Kazkommertsbank and BTA to be shortly merged are among them as they jointly account for 62% of NPLs in the banking sector.