Category Archives: Kazakhstan

Kazakhstan Passes Polemic Labor Code

Almaty recently announced the implementation of a revised labor code. The controversial code is rife with regulations that harm ordinary workers, leading many analysts to dub it a “bill against the people.” Deliberation on a new labor code started in the latter half of 2015, sparking contention from the onset. The code was developed by [...]
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Kazakh Tenge Among Worst Performing Currencies in Europe

Market analytics group Forex Club announced this week that Kazakhstan’s tenge is among the least valuable currencies in Europe. While the Kazakh Central Bank blames the depreciation on falling oil prices, analysts say the situation is far more complex and point to systemic mismanagement. From 2014-2015, the tenge suffered a 124% devaluation in relation to [...]
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Kazakhstan Expands Peacekeeping Efforts

Vital as they may be worldwide, peacekeeping operations, with their lack of glamour and faraway posts, are unloved by most ministries of defense and are typically among the first to suffer cuts in times of economic downturn, except, apparently, in Kazakhstan. Almaty has intriguingly responded to falling oil revenue by expanding its peacekeeping forces. Since [...]
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Eurasian Economic Union Closes Deal with Israel, China

The Eurasian Economic Union is expanding, and quickly. In early September, leaders of the five member states gathered in Kazakhstan’s Borovoe resort area to sign documents making Israel and China official partners to the trading bloc. The Union and Israel have signed an agreement authorizing the creation of a free trade zone. “Israel’s extremely developed [...]
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After Kazakhstan’s Devaluations, A Sacrificial Lamb

Earlier this month, Kazakhstan’s president Nursultan Nazarbayev has fired the head of the country’s Central Bank Kairat Kelimbekov. Kelimbekov, who had occupied this position for more than two years, was well known for having overseen two deeply unpopular (but necessary) currency devaluations. Having had his name associated with a greater loss in wealth for most [...]
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