• The Turkstream Dream

    With South Stream consigned to the dustbin of history, Turkstream remains the Russia’s alternate pipeline in the Black Sea. Is this pipeline all that it’s cracked up to be?

    08-27-2015 / Read More
  • Kazakhstan’s Anti-Corruption Effort Falls Short

    Kazakhstan has repeatedly stated its intention to wipe out corruption, but progress has been quite meager. Will they just give up and allow business-as-usual corruption to continue?

    08-26-2015 / Read More
  • The Geopolitics of Food in Putin’s Russia

    Soviet textbooks used to quote passages from John Steinbeck’s The Grapes of Wrath, depicting the landowners destroying their crops amid a famine as an example of the brutality of capitalism. Now Putin is doing the same thing.

    08-26-2015 / Read More

The Tenge Sinks


On 20 August, the Central Bank of Kazakhstan allowed its currency to float, or rather to sink. While the structural reform of inflation targeting is useful, the action is eviscerating the savings of the poorest and may stoke inflation locally. What does the loss of 25% of the value of the Tenge mean?


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