Kazakhstan: Central Bank Steps In To Prop Up Cash-Strapped Oil Giant

President Nursultan Nazarbayev meets with the chairman of the National Bank, Kayrat Kelimbetov, to discuss the bank’s performance and plans. Analysts raise questions about the reasons for Kazakhstan’s national wealth fund’s sale of a 10 percent stake in the state energy company to the National Bank, wondering if the bank was pressured to accept the deal and how well Kazakhstan is coping with a slowdown in economic growth. (Photo: Kazakhstan Presidential Press Service)

Stubbornly low oil prices and delays on a mammoth offshore project have prompted Kazakhstan’s national wealth fund to sell a 10 percent stake in the state energy company to the National Bank, the country’s top fiscal institution.
 

To read the full story

Joanna Lillis is a freelance writer who specializes in Central Asia.

Kazakhstan: Central Bank Steps In To Prop Up Cash-Strapped Oil Giant

1 / 1
X
> <