Economy

S&P downgrades Kazakhstan’s banking sector

Standard & Poor’s Ratings Services said on Wednesday it revised downward to Group 9 from Group 8 its Banking Industry Country Risk Assessment (BICRA) on the Republic of Kazakhstan (foreign currency rating BBB-/Stable/A-3, local currency rating BBB/Stable/A-3).

Kazakh’s BTA Bank Says It May Take Years to Recover Its Assets

BTA Bank, Kazakhstan’s largest lender, said it may take years to recover some of its assets after previous management fled.

BTA Bank projects up to 97 percent creditor losses

Uncertainty around the bank’s financial situation and the lack of progress in negotiating a restructuring agreement.

Watching and waiting in Kazakhstan's crisis-hit banking sector.

As Kazakhstan enters its third year of crisis, the long-awaited clarity about BTA Bank and Alliance Bank's restructuring is imminent. Kazakhstan's two other "Big 4" lenders - Kazkommertsbank and Halyk Bank - appear to be stable, but for the sector as a whole the growing burden of problem loans means that things could still get worse before they get better.

Turkmenistan signs landmark gas exploration deal.

Turkmenistan has signed a landmark deal granting Caspian Sea gas exploration and extraction rights to a member of the Nabucco pipeline consortium, state media reported.

Kazakhstan central bank grapples with CDS headache

Astana, the capital of Kazakhstan, lies thousands of miles from London’s trading rooms – let alone the political lobbyists in Washington. This summer, however, Grigori Marchenko, the Kazakh central bank governor, has reason to follow the US and UK debate about the future of credit derivatives with particular interest.

FW: ATF Kazakhstan CEO Says Bankers Dismissed Devaluation 'Panic'

ATF Bank, a unit of UniCredit SpA, dismissed accusations from the central bank that managers may have contributed to speculation of a devaluation in the tenge by advising clients to buy dollars.
Central Asian Economies: Thirty Years After Dissolution of the Soviet Union

Central Asian Economies: Thirty Years After Dissolution of the Soviet Union

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Europe’s weak protections for refugees leave Central Asian dissidents at extreme risk

Europe’s weak protections for refugees leave Central Asian dissidents at extreme risk

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Analysis: Central Asian countries need to remain focused on reforms despite new security threats

Analysis: Central Asian countries need to remain focused on reforms despite new security threats

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